LIVE BUSINESS: GSK raises guidance; Next exceeds forecasts; Aston Martin’s losses almost double

Pessimism about the economy is “on the retreat” as business confidence returns and mortgage lending recovers.

In an upbeat survey published today, the Institute of Directors (IoD) said its economic confidence index is at its highest level since May last year.

The Duke of Westminster’s property company paid out more than £50m in dividends, despite posting an annual loss.

Grosvenor, which owns much of Mayfair and Belgravia in London, posted a loss of £28.6m in 2023, after making a profit of £110.4m the previous year.

Deltic Energy has hit out at the UK’s “hostile political environment” by warning it may have to pull out of a major North Sea project.

Shares in the Aim-listed exploration company fell 47 per cent, or 18.1 pence, to 20.4 pence in the update, which relates to Deltic’s 30 per cent stake in the Pensacola well, which is majority owned and operated by Shell.

The chairman of Anglo American has promised to meet with shareholders to discuss an imminent battle over the acquisition of the mining company.

City grandee Stuart Chambers, who has sold blue-chip companies, said yesterday he will hold talks with the company’s top 30 investors.

The pound at 8 a.m. was trading at $1.2469, compared to $1.2516 at the previous close.