Further impacting sentiment, Bank of England Chief Economist Huw Pill told the Financial Times that the central bank “cannot afford to relent in its battle against high inflation just because it sees signs of weakening economic activity”. He warned of “stubbornly high” price pressures.

The FTSE 100 was down 0.2% at 9am today, hampered by energy and mining stocks. Entain fell 2% and AstraZeneca dipped 8% after their stocks were downgraded by Goldman Sachs and Jefferies, respectively. Meanwhile, Rightmove climbed 5.9% after it raised its annual revenue guidance, amid improved revenue growth, with an expected full-year average revenue per advertiser growth range of 112 to 116 pounds.

In other news, JLEN Environmental Assets Group reported a significant drop in profit and operating income for the fiscal first half.

FirstGroup's CEO expressed concerns over the potential risks to the rail business from a possible Labour government, which has proposed bringing railways into public ownership.

Aviva has struck a deal to acquire Canadian insurer Optiom for 100 million pounds, aiming to expand its capital-light businesses in Canada. This acquisition is expected to close in the first quarter of 2024.

In corporate appointments, Brooks Macdonald announced Maarten Slendebroek as its new Chairman, succeeding Richard Price.

This week, investors will be closely watching UK mortgage data and the inflation data in the eurozone and the US.

Things to read today:

Short sellers are misunderstood (Financial Times)

Tesla vs. Toyota Is the New Hot Battle in Cars (WSJ)

Why America Abandoned the Greatest Economy in History (The Atlantic)

Sunak Says Claims UK Headed for Austerity ‘Simply Unfounded’ (Bloomberg)