Tesla sales fell 40% across Europe in July; Drax shares tumble 10% after FCA launches investigation – business live

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Shares in power generator Drax have tumbled by 10% after it revealed this morning it is being investigated by the City watchdog.

Traders drove Drax’s share price down to 630p in early London trading, down from 703.5p last night, following the news that the FCA is probing whether its recent annual reports comply with UK Listing Rules.

Meanwhile, possible electricity rate adjustments and higher rice tariffs could raise inflationary pressures over the policy horizon.

The Monetary Board observed that domestic demand has held firm. However, the impact of US policies on global trade and investment continue to weigh on global economic activity. This could temper the outlook for the Philippine economy.