FTSE 100 on the back foot as miners weigh; Compass jumps on bullish outlook – Market Report [Video]

The FTSE 100 was on the back foot in early trades with miners under pressure as China indicated there would be no more major interventions to boost its ailing property market.

The Footsie was down 23 at 8,175 led by copper giants Glencore and Anglo American.

Compass topped the risers as the contract caterer served up a 10.3% jump in revenue in its latest quarter. For the full year, underlying profit growth will be more15% on a constant-currency basis, it added, with all regions doing well.

Online estate agency Rightmove believes 120,000 more rental properties are needed to bring rental price growth back to pre-pandemic levels. Average advertised rents outside of London just hit a new all-time high of £1,314 per calendar month, it added.

Finally, Tesla boss Elon Musk’s latest pronouncement is that the electric car maker will start to use bi-pedal ‘Optimus’ humanoid robots in its factories from as early as next year.
“Genuinely useful humanoid robots” will help in low production for Tesla internal use next year, said the billionaire.

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