Tuesday 10 July

Company news, markets and financial talking points, available from 8am Monday to Friday

Pounds sinks after Boris Johnson's resignation

Sterling fell against the dollar and the euro after Boris Johnson resigned as Foreign Secretary yesterday. The pound fell more than a cent against the dollar to trade at $1.3218, while against the euro it sank to €1.1253. Previously, the currency had been in positive territory as investors predicted that Brexit Secretary David Davis's departure meant a "softer" Brexit was on the cards.

Sales up of Southgate masks and artificial grass

Waistcoats, masks, giant-screen televisions and artificial turf are among the products enjoying a "World Cup bonanza", says the BBC. Amazon's number one best seller in the fancy dress department is a full Gareth Southgate face mask, while Marks & Spencer says it's witnessed a 35% surge in sales of waistcoats. Currys PC World says sales of large television are 40% up year-on-year.

Royal Mail facing investor uprising over executive pay

Royal Mail is facing a shareholders’ revolt over its decision to pay a higher salary to Rico Back, its new chief executive, than that of his predecessor. Two leading shareholder advisers have called on investors to vote against the remuneration plan. The postal group said that Back’s variable pay was subject to meeting "stringent" performance conditions.

Sorrell emerges victorious from battle for MediaMonks

Sir Martin Sorrell's new advertising venture has won a bidding war against his former employer WPP. S4 Capital will announce today that it has struck a cash and shares deal to buy MediaMonks, after outbidding rivals WPP. The Daily Telegraph says the development is likely to spark further conflict with the FTSE 100 giant.

Bank of England to probe Goldman on auditor choice

Mark Carney’s Bank of England is investigating whether an American investment bank may appoint an accountancy firm outside the Big Four as its UK auditor. The move comes amid concerns that Goldman auditor Grant Thornton lacks the resources of its elite rivals. The BOE requires that an auditor of a British bank has the "required skill, resources and experience to perform its function under the regulatory system".

Quote of the day… How can businesses plan amid the chaos?

"How is business supposed to plan ahead when an infighting, Brexit-negotiating administration lurches from crisis to crisis? No wonder companies are reluctant to invest." Alistair Osborne of The Times on tumultuous times in Britain.

THE NUMBERS... AT 0648 GMT

FTSE 100: up +0.92 to 7,687.99
Dow Jones: up +1.31 to 24,776.59
Dax: up +0.38 to 12,543.89
Cac 40: up +0.42 to 5,398.11
Nikkei: up +1.20 to 22,316.89
Hang Seng: up +0.22 to 28,751.20
US dollar: buys €0.8517 and £0.7554
Sterling: buys $1.3235 and €1.1272
Oil: $78.54 up +0.47