UK housing market ‘resilient’ in October; Asian stocks mixed after bumper tech earnings – business live

Rolling coverage of the latest economic and financial newsPrinces Group has floated on the London stock market this morning with a starting price of 475p per share, giving it a market capitalisation of £1.16bn and making it one of the biggest IPOs in the City in recent years.The nearly 150-year-old company, which makes Princes Tuna and Branston Beans, is headquartered in Liverpool and employs about 7,000 people.Today marks a defining moment in Princes Group’s journey as we proudly begin our chapter as a publicly listed company. This milestone is a testament to the strength of our brands, the dedication of our people, and the trust placed in us by customers and partners across the globe.For nearly 150 years, Princes has been a name synonymous with quality, value, and innovation in food and drink. Our listing on the London Stock Exchange reflects not only our heritage but also our ambition for future growth.In the tech space, Meta Platforms dropped by more than 11% in response to increasing concerns over the level of AI spending, where the company revealed that it was looking to raise $25 billion for the purpose. Microsoft shares dropped by 3% on similar concerns, despite an otherwise highly positive earnings report.…The mood was also sombre as investors digested the previous comments from Fed Chair Powell, who poured cold water over the probability of a further rate cut in December which markets had priced in. Continue reading...

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