Closing summary
Planned London Underground strikes that threatened to bring the capital to a halt next week have been called off after talks.
The RMT and Aslef unions have suspended industrial action that would have stopped the tube entirely for four days and caused widespread disruption from Monday to Saturday.
The strikes, by train drivers and station staff, were planned because of a dispute over changes to working conditions, including staffing reductions and a review of pensions brought as part of Transport for London’s post-Covid financial settlement with the government.
The RMT’s general secretary, Mick Lynch, said there had been “significant progress” in talks held by the conciliation service, Acas but that it was not the end of the dispute, with negotiations continuing and a strike mandate still in place.
Holidaymakers have begun taking to Britain’s roads, airports and ferry ports as the great summer getaway reaches its peak this weekend.
About 2 million people are expected to fly overseas from the UK between Friday and Monday, with about 13 million forecast to hit the roads in the coming days for trips abroad or a holiday at home.
Jammed roads are forecast, with a second rail strike on Saturday severely disrupting trains around the country, including cutting most of the main intercity services to one an hour.
Thank you for following us on the blog today. Have a great weekend. We’ll be back next week. Bye! – JK
Wall Street has opened higher.
The Nasdaq, which fell 2% yesterday, has bounced back nearly 90 points, or 0.6%, to 14,152 as technology stocks recovered. The Dow Jones has gained almost 70 points, or 0.2%, to 35,294 – its tenth day of gains – and the S&P 500 has climbed 16 points, or 0.36%, to 4,551.
Over here, the FTSE 100 edged 0.14% higher to 7,656, a 10 point gain. The Dax in Frankfurt is still down 0.27% at 16,161 while the CAC in Paris is 45 points, or 0.6%, ahead at 7,430 and the FTSE MiB in Milan has risen 70 points, or 0.2%, to 28,883.
The pound is flat against the dollar at $1.2856 and against the euro at €1.1550.
