FTSE LIVE: Premier Inn owner Whitbread knocked by weak demand; Tesco plots new ‘Finest’ chain to take on M&S; Latest inflation figures loom
- Tesco could open a chain of shops dedicated to its upmarket Finest food range
- Premier Inn owner Whitbread said UK accommodation sales dropped 4.6%
- Blue chip index flat at the open after strong rally to nearly 7,450 on Tuesday
It’s a busy day on the business and markets front, with UK inflation figures expected later this morning, the latest from the Fed this afternoon and plenty on company news to chew over in the meantime.
To start with, Premier Inn owner Whitbread warned that regional hotel demand in the business market was being knocked as Brexit uncertainty is makes for ‘more challenging’ market conditions.
And Tesco is mulling a new chain of shops dedicated to its upmarket Finest food range, which would see the UK’s largest grocer go head-to-head with upmarket rival Marks & Spencer.
Meanwhile, Clydesdale and Yorkshire Bank owner CYBG has said it will start rebranding to Virgin Money later this year.
FTSE 100 climbed strongly on Wednesday. Today it is flat at the open at 7,449.41