Business is booming.

EU gas storage hits record high in blow for Putin

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Britishvolt could be rescued from administration after an eleventh hour bid from an Australian start-up.

Recharge Industries describes itself as at the forefront of battery technology, opening up opportunities and powering the transition to a greener world.

Meanwhile, EasyJet is due to publish its financial results today.

A key economic bellwether, the finanical health of airlines serves as a marker of how the wider economy is doing.

Rising airline flight sales tends to mean more disposable income and greater prosperity; the reverse can often signal harder times.

5 things to start your day 

1) Don’t let Greta Thunberg’s flight shaming movement end air travel, say Tory MPs | Chris Grayling and Sir Graham Brady among MPs backing sustainable fuel policies

2) Treasury turns to households for cheaper borrowing as UK debt interest bill spirals | Premium Bond prize rate hits 15 year high as Treasury scrambles for cheap cash

3) Britain sends energy to Ireland as households asked to switch off | Figures reveal growing interconnectedness of UK’s electricity market amid tight supply

4) US government sues Google in attempt to smash advertising dominance | Federal lawsuit alleges tech giant has used ‘unlawful’ means to eliminate competition

5) Electric Ferraris to roar like its petrol cars thanks to new tech | Sports car giant recreates revving engine for electric era to preserve ‘driving pleasure’

What happened overnight 

Asian stocks eked out small gains amid downbeat investor sentiment following mixed corporate earnings.

South Korea’s Kospi index surged more than 1pc in a catchup move after Lunar New Year holidays. 

Tokyo stocks ended higher as worries eased about a global economic slowdown while traders waited for corporate earnings season to get into full swing.

The benchmark Nikkei 225 index added 0.4cp to close at 27,395.01, while the broader Topix index rose 0.4pc to 1,980.69.

Shanghai and Hong Kong markets remained closed for the Lunar New Year holidays.

In Australia, stocks dropped amid reports of higher than expected inflation figures setting off expectations for another interest rate hike. Consumer inflation rose 8.4pc in December, higher than the forecast of 7.6pc.

Oil rose after a drop on Tuesday and gold inched higher to extend recent gains, pushing the precious metal to the highest level since April.

Read More: EU gas storage hits record high in blow for Putin

2023-01-25 18:08:00

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