The London stock market has outperformed its European counterparts, with the FTSE 100 closing up 1.3 per cent to 7,385.3 and the FTSE 250 rising 0.3 per cent to 20,975.7.
The Bank of England has hiked the base rate from 0.5 per cent to 0.75 per cent, following in step with the US Federal Reserve on Wednesday.
This is the third rise since the Monetary Policy Committee members started lifting the cost of borrowing to fight inflation in December.
Deliveroo aims to reach break even in core earnings in around two years’ time and predicts a 15 to 25 per cent rise in the value of gross transactions on its platform this year – a slowdown from 70 per cent in 2021 when it was boosted by lockdowns.
The London-listed firm’s adjusted core loss widened to £131million last year compared to a loss of £11million in 2020, reflecting increased marketing spend and tech investment.
National Express has urged Stagecoach shareholders to back its merger offer over a rival takeover bid from DWS, which the board said ‘materially undervalues’ the firm.
Last week National Express’s £470million bid was gatecrashed by the German investment firm, which offered £595million.
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Governor of the Bank of England Andrew Bailey
