FTSE 100 dives into the red, reversing most of Monday's gains after US markets struggled

FTSE 100 reversed most of its gains yesterday as US markets struggled and after mixed UK jobs data. The index was down 55 at 7,555 in early trades.

UK unemployment held steady at 4.2% in the three months to November but wage growth slowed, said the ONS. 

Employment was marginally higher but average weekly earnings grew by 4.2% from 4.9% in October.
The government is mulling three measures to cushion the impact of soaring energy prices ahead of the next energy price cap revision on 7 February. A VAT cut, boost to the warm house discount and a commercial lending might cut £300 from bills, reports today suggested.
 
GlaxoSmithKline is set for talks with sovereign wealth funds in Qatar and Singapore to shore up support for the demerger of its consumer arm. Talks will focus on the funds becoming cornerstone investors in the demerged business following the rejection of Unilever’s £50bn offer, according to reports today.

Among the small caps, Guild Esports signed a three-year global sponsorship deal with Bitstamp for US$4,5mln.  The crypto exchange will be given marketing rights and prominent exposure across Guild’s team jersey, amongst other benefits.

OptiBiotix Health published results from a third human volunteer study on its cholesterol reducing probiotic.  Data showed the treatment was safe and that the higher the starting level of cholesterol, the greater the reduction.

Caledonia Mining produced a record 67,500 ounces of gold from its Blanket mine in Zimbabwe during 2021. Gold production for 2022 is expected to be between 73,000 and 80,000 ounces.

Story by ProactiveInvestors