BUSINESS CLOSE: UK markets slip; Bitcoin hits record high on ETF listing; Business rates bill to soar; Barclays beats expectations with bumper Q3
The FTSE 100 index closed down 0.45 per cent or 32.80 points to 7,190.30 this afternoon.
The price of bitcoin hit record highs yesterday, following the launch of the first ever bitcoin futures exchange-traded fund in the US.
Bitcoin broke the $66,000 mark, ahead of its previous all-time high of $64,800 reached in April and more than double its level in July, and has settled back to $64,536 as of 7.30am GMT on Thursday.
Business rates are set to rise by close to £1billion next year – sparking demands for the hike to be cancelled until the system is reformed.
The jump in the tax on commercial property is based on inflation data for September – which yesterday came in at 3.1 per cent.
Barclays followed Wall Street rivals in reaping bumper investment banking fees from a surge in trading and advisory mandates, reporting better than expected third quarter earnings.
The British bank reported profit before tax of £2billion in the three months to the end of September, better than the £1.6billion forecasted by analysts and double the £1.1billion it posted in the same period last year.
Barclays’ advisory and equities businesses posted their best ever performances in the first nine months of the year