Hut Group shares came under more pressure today, despite the e-commerce business led by Matt Moulding insisting there was no notifiable reason for the recent stock market pummelling. Shares closed 35% lower last night on the back of Moulding’s presentation to City analysts and were down again today.

The FTSE 100 index was also lower, with mining stocks among those under pressure ahead of the release of US inflation figures and the start of the third quarter earnings season on Wall Street.

Apple shares will also be closely watched later after it was reported that it is unlikely to meet near-term production goals for its new iPhone due to global electronic chip shortages.