FTSE 100 Live (Evening Standard)
FTSE 100 stable after Friday’s surge, Brent crude at $ 81 per barrel
07:18 , Graeme Evans
A steady Wall Street session on Friday lifted the S&P 500 index to its third consecutive positive week and its highest closing level since early September.
Minutes from the Federal Reserve meeting and Tuesday night’s results from semiconductor giant Nvidia are among the potential market-moving events this week.
The FTSE 100 index also recorded a positive performance last week, rising 1.3% or 93.28 points to 7504.25 on Friday.
Futures markets for London’s top flight are settling for slightly lower prices at the start of the week, according to IG Index.
In Asia, the Hang Seng index is 1.6% higher as property shares rose on speculation the sector will get fresh support from Chinese regulators.
Brent crude neared $81 a barrel after jumping 4% on Friday on reports that OPEC+ plans to consider more supply cuts at its meeting later this week.
Compass’ revenue increased by 22%
07:18 , simon hunt
Compass’ revenues rose nearly 22% to above £10 billion in the year to the end of September as the food services and catering group praised “favorable market conditions, persistent inflation and our flexible operating model”. [which] Strong balanced net new business growth across all our regions continued to be supported.
Operating profit rose 26% to £1.9 billion as Europe’s biggest caterer saw 19.5% growth in the region and a strong 23.1% growth in North America.
Compass said it expects underlying operating profit to grow by about 13% in the coming year.
CEO Dominic Blakemore said: “Despite some macroeconomic uncertainty, favorable market dynamics continue and with global market share below 15% and approximately 50% of the market still self-driven, we have an exciting structural growth opportunity. “
Recap: Friday’s top stories
Sunday 19 November 2023 20:11 , simon hunt
Good morning from the Evening Standard’s City Desk.
The tech world was rocked over the weekend after the CEO of the world’s most famous AI business was suddenly fired.
Sam Altman, who has been at ChatGate creator OpenAI since 2015, was suddenly told he would no longer be at the helm of the business, a move that triggered a series of staff resignations and spooked investors, who were planning a . To bring back Altman.
This morning it was revealed that Altman has been replaced by former Twitch boss Emmett Shear, despite Altman arriving at the San Francisco-based firm late Sunday night for talks in hopes of being reinstated.
Here is an overview of the events leading up to Altman’s firing and speculation of internal tensions at OpenAI.
And Balderton Capital partner James Wise wrote for the Standard yesterday about wider governance issues at OpenAI.
Here’s a summary of our other top headlines from Friday: