Carbon dioxide industry strikes supply deal as energy prices rise

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3) Bets Rise Against British Pound As Supply Chain Crisis Intensifies: Investors are betting more heavily on a fall in the pound than at any time since the lockdown last winter, as stagflation fears stalk the currency.

TRades to insure against a fall in the pound against the dollar have risen sharply over the past two weeks, with bearish bets reaching their highest level since March.

4) The US company behind the Department of Defense’s struggling Ajax tank makes a profit of £ 75million: The army’s struggling Ajax tank, which injured more than 300 soldiers involved in its tests, helped generate a profit of £ 75million for its US manufacturer.

GD UK Ltd, a UK subsidiary of General Dynamics, reported a 41% increase in pre-tax profit for the year ended Dec. 31, according to results released by Companies House. Revenue rose 2% to £ 735million, of which £ 542million came from Ajax.

5) Bitcoin mining giant is plotting a billion pound float: A bitcoin mining company is setting the stage for Europe’s largest cryptocurrency float after seeking advice on a listing over the next 12 months.

The Bitfury group has reportedly asked Deloitte to review its preparation for the IPO, with a probable price of several billion pounds.

What happened during the night

Asian stocks rallied on Monday on gains in China, which also helped U.S. equity futures reduce initial losses, while rising Treasury yields lifted the dollar to an almost three-year high against the Japanese yen.

Futures on the Nasdaq and the S&P 500 were both down around 0.1 pc, but well above the early lows. EUROSTOXX 50 futures contracts plunged 0.1 pc and FTSE futures remained stable.

Oil prices have continued to rise, with gains in the energy complex fueling inflation concerns.

A 1 percent rise in China’s blue chip index helped stabilize the mood, and the MSCI’s largest Asia-Pacific stock index outside of Japan added 0.7 percent.

The weaker yen gave a welcome boost to Japan’s Nikkei which reversed initial losses to rise 1.7%, although Australia was still down 0.4%.

Coming today

  • Business : XP Power (commercial update)
  • Economy: GDP (UK)


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