FTSE 100 down but off session lows, BoE Governor says recession the most likely outcome

Andrew Bailey, the Governor of the Bank of England, has said a recession is the most likely outcome for the UK economy. GB Group (LSE:GBG) PLC soared 21.74% today after private equity firm GTCR said it is considering a possible cash offer for GB. The Halifax analysts expect the housing market to come under pressure in the coming months. The weak pound left UK companies vulnerable to such approaches. They expect a rise in house price values in August. It is more confident that a substantial correction in prices will be avoided. Shevaun Haviland, director general of British Chambers of Commerce, called for more powers for Ofgem and a longer-term energy plan.