FTSE falters after crypto crash and inflation fears – fr

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FTSE falters after crypto crash and inflation fears – fr


gHello. Bitcoin rebounded to around 7pc after plunging 30pc into a large cryptocurrency rout.
The FTSE 100 is expected to open higher after a mixed session for Asian stocks.

5 things to start your day

1) Elon Musk heads to the UK as ministers search for a site for a new car plant: The founder of Tesla is spending two days in the UK, fueling speculation that the electric car company could manufacture vehicles in Britain.

2) “British Rail” returns as the government tightens its grip on trains: A public body will be formed to centralize operations, in the biggest upheaval in the industry for more than a quarter of a century.

3) Call to replace housing tax and stamp duty with a new property tax: An annual tax equal to a share of the value of each home would be fairer, according to a new report from think tank Bright Blue.

4) Network Rail is expected to reduce thousands of jobs: The indebted railway body faces the specter of industrial action as it seeks to review its working practices and introduce more technology.

5) John Laing falls to KKR for £ 2bn in latest private equity swoop: The private equity giant is keen to harness the infrastructure company’s access to high-growth markets such as renewables.

What happened overnight

Asian markets were mixed at the start of trading on Thursday. Tokyo ended the morning slightly lower, while Hong Kong slumped on its return from a midweek vacation to catch up on Wednesday’s global losses. Shanghai, Seoul, Taipei and Manila also fell, but gains were recorded in Sydney, Singapore, Wellington and Jakarta.

Bitcoin stabilized after Wednesday’s wild swings that saw it collapse by nearly a third in a day before recouping most of its losses. At one point, the currency rose more than 8% to reach $ 40,000.

Coming today

Business: Royal Mail, National Grid, NBrown, QinetiQ (Full year); IntegraFin Holdings, easyJet (Temp worker); Kingfisher, Swiss Watches, Helios Towers (Commercial update)

Economy: Unemployment claims (WE); producer price index (Ger); construction output (ME)

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