Investors are now focusing on the release of important nonfarm payrolls and the unemployment rate in the US to get more clues about the Fed’s rate hike path. The FTSE 100 was down 0.6% at 9am.

Coca-Cola HBC jumped 3% after it raised its profit guidance for 2023.

In other news, Halifax said that house prices fell by 2.6% in June on an annual basis, which is the largest decline in 12 years.

Things to read today:

The downfall of a UK hedge fund titan (Financial Times)

Older UK workers who retired early in pandemic were ‘forced into poverty’ (The Guardian)

Britain’s energy failure risks killing off what is left of our manufacturing base (The Daily Telegraph)