1. The pound plunges near its lowest level in 30 years
The pound fell 4.5% against the dollar, its worst month since the Brexit vote in 2016, slipping from $1.225 to below $1.161 today.
2. Lloyds Banking, NatWest and Barclays still supportive
According to Goldman Sachs (NYSE:GS), strong mortgage lending in the Bank of England’s latest monthly money and credit statistics underscores the attractiveness of the UK banking sector.
3. Russia stops gas flow via Nord Stream pipeline
Gazprom, Russia’s state-owned energy company, shut down the pipeline at 4 a.m. Moscow time on Wednesday morning.
4. The FTSE 100 falls again
At the close, the UK blue chip index was down 77.48 points, or 1.1% at 7,284.15, above the day’s low of 7,263.62 but well below the session peak of 7,378.44.
5. Sainsbury’s will spend £65m on price cuts in September to ease pressure on consumers
The UK’s second-largest supermarket group said £60million of September’s investment would go to food prices.