Energy News Today

FTSE edges higher despite UK economic growth slowing down considerably in third quarter

The FTSE 100 edged higher at open even though UK economic growth slowed down considerably in the third quarter. London’s leading index added 21 points to 7,361 in early deals.

The US and China have announced a surprise climate agreement at COP26 in Glasgow. The two countries, which are the world’s two largest CO2 emitters, will work together to limit global temperature rises by 1.5C.

Elon Musk has officially sold US$1.1bn worth of Tesla Inc (NASDAQ:TSLA) shares following a recent Twitter poll. It turned out he had already set up an automatic plan to sell the stock weeks ago, well before asking his followers on social media.

Burberry Group PLC (LSE:BRBY) posted a recovery of revenues to pre-pandemic levels, with full-price sales driving margin and profits up. The Americas, Mainland China and South Korea, have seen strong growth while other regions suffered from lower tourist numbers.

Among the small caps, Mode Global Holdings PLC (LSE:MODE) is to hook up with PayEscape to pilot the first-ever Bitcoin payroll product in the UK. Subscribers will be able to deduct money from their monthly salary so it can automatically be turned into cryptocurrency.

Gas producer Tlou Energy Limited (AIM:TLOU, ASX:TOU, BSE:TLOU) will start production of green hydrogen at the Lesedi Power Project next year. It will be used to generate electricity and possibly for transport fuel.

Meanwhile, Zephyr Energy PLC has produced the first hydrocarbons from its well in Utah. The oil and gas company said it marks a major milestone in advancing the project.

Read More: FTSE edges higher despite UK economic growth slowing down considerably in third quarter

2021-11-11 04:37:00

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