itc_updates: Investment - FTSE 100 edged higher even as UK’s biggest rail strike in thirty years got underway

Tuesday, 21 June 2022

Investment - FTSE 100 edged higher even as UK’s biggest rail strike in thirty years got underway | Proactive

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21 June 2022

FTSE 100 edged higher, gaining 35 points to 7,157 even as the UK’s biggest rail strike in thirty years got underway. Prime Minister Boris Johnson is set to condemn the unions ahead of today’s Cabinet meeting. Kantar’s latest data showed that grocery inflation in the last four weeks hit 8.3%, its highest level in 13 years. It will mean an additional £380 is spent on groceries this year, said the market research firm. Rolls-Royce will be giving members of staff a one-off payment to help with the rising cost of living crisis. More than 14,000 members of staff will be given a £2,000 payment. Ocado has completed a quick-fire £575mln fundraiser, issuing new shares to institutional investors for 795p each – more than a third of their value at their peak early last year. The online grocer, which has parlayed this expertise into technology and fulfilment, will use the funds, including an additional £3mln contributed by retail investors, to maintain its expansion plans. Cadbury’s owner Mondelez is buying US energy bar maker Clif Bar & Company. The deal is worth over £2bn and will help drive its plans to “lead the future of snacking.” Reabold Resources has revealed details of how the West Newton field on Humberside will progress once permission to go ahead is forthcoming. The conceptual development plan envisages a predominantly gas development project. Currency specialist Record reported a significant jump in revenues and profit, up roughly 40% and 60% respectively, in its full year results. The improvement reflects its switch away from just forex, said the statement.