The FTSE 100 struggled to make headway on Tuesday as Bank of England governor Andrew Bailey said the UK is experiencing a “weak growth environment”.
It came as Mr Bailey also cautioned over the impact of “global fragmentation” on the world economy, adding: “Today, we’re in a period of, frankly, heightened uncertainty – we all know what’s going on around us.”.
In company news, Holiday Inn owner InterContinental Hotels Group (IHG) said it had snapped up another hotel brand as it reported stronger profits.
The FTSE 100 firm said it has acquired Ruby Hotels for an 110.5 million euros (£87.6 million).
It came as IHG revealed that operating profits grew by 10% to 1.12 billion dollars (£890 million) in 2024, as it benefited from more hotel openings.
