Vistry sells 1,750 homes to Blackstone; UK retail sales rise

Homes to be managed by private rented housing firm Leaf Living

UK and European shares are in the red, while oil prices are extending losses as investors expect more supply later in the year.

The FTSE 100 index in London is down 34 points, or 0.4%, while Germany’s Dax and France’s CAC have both lost around 0.3% and Italy’s FTSE MiB has fallen nearly 0.7%.

The markets barely blinked at yesterday’s political turmoil, and with just one month to go before the UK electorate heads to the polls, the FTSE 100 opened just a fraction down…

Brent crude is down… to under $78 per barrel following prices cratering to four-month lows yesterday, after Opec+ nations revealed they would gradually phase out production cuts after September. This, and the weaker economic data seen both sides of the pond, may provide some comfort for those on rate-setting committees hoping for an earlier cut to borrowing costs.

Meme stocks have been in the spotlight again, after a post by social media influencer “Roaring Kitty” suggested he had taken a significant position in GameStop. The shares were up as much as 75% over the day but closed up just 21%. This highlights the extreme volatility and risk in trying to catch the timing of these rallies which have no financial substance behind them.