It's Christmas time in the city, but if all the bright lights and busy streets (or maybe that marathon series of “It's a Wonderful Life” you couldn't pass up) have you yearning for a small-town Christmas, there's no better destination than Nevada City, California, and its annual Victorian Christmas celebration. This gingerbread-decorated hamlet in the Sierra foothills, about a 2 ½-hour drive from San Francisco, is like a portal back in time. Read on to find out where to stay, eat, and play.

Before Christmas, two WednesdayFor the three Sundays in December, most of downtown is closed to through traffic and opened to a bustling activity. Carolers, wandering minstrels, jugglers, costumed characters, horse-drawn carriage rides, local musicians, including many children, and other local talent perform in the streets while families stroll from vendor to vendor sampling, sipping, snacking and purchasing their wares. The atmosphere is warm and inviting as locals and tourists alike are there.

SantaBaby
At the bottom of Broad Street (the main drag), Santa will be available for photo ops. For $5, children and groups can have their picture taken with Santa. The money goes to a local charity – and photos are not required. If your little ones are camera shy or want to cross seeing Santa twice off their list, any child can chat with old Santa.

Bonus: There's also balloon art and a bouncy castle for the kids. Also, keep an eye out for jugglers and magicians.

Roasting chestnuts over an open fire
In addition to spiced cider, mulled wine and barbecued food, there will be chestnuts roasted over a real open fire every night. Cecil Snow, the city's favourite Victorian chimney sweep, will be stoking the fire and selling the chestnuts. This is not to be missed.

Decorate the halls
In addition to the unique gifts sold throughout the streets by local artists and artisans, the United Methodist Church at the top of Broad Street hosts an open house and craft market. It's the perfect place to escape the cold, enjoy the festive atmosphere with Santa, apple cider, cookies and music, beautiful decorations, and use the restroom! Or visit the Nevada City Craft Fair on Sunday, December 11 In the historic Miners Foundry you will find a wide selection of artisan gifts.

Photo by Erin Thiem, outsideinn.com

Park your car
Parking is very limited and it can be frustrating when a whole troupe of carolers is ready to hit the road, so drop them off and park your car at the Nevada County Government Center, then take the shuttle back to town. There is a $5 fee on the ride into town, but it's free on the way back to the car! Check out the Nevada City Chamber of Commerce website for more information.

Good night everyone
There are many bed and breakfasts, hotels and motels in this area. The Outside Inn is a family and pet friendly motel style accommodation that is within walking distance of all of downtown Nevada City. Or if you'If you're looking for something unique, rent an RV and try the new Inn Town Campground, less than two miles from downtown Nevada City.

The Northern Queen Inn offers reasonable rates and its own Christmas lights – plus you can choose between traditional rooms or little cabins in the pines! It's a little further away than the Outside Inn, but it's still within walking distance of downtown.

What to wear
Dress for the occasion, but wear your warmest clothes. It's not unusual for snow to fall this time of year! Wool coats and capes and top hats are also appropriate! Bring gloves, hats and scarves for the kids, and wear good walking shoes. Most activities are outdoors, and Nevada City is hilly. The main street, Broad Street, is a long, rolling hill, so wear comfortable shoes.

When: Sundays, December 411th and 18th of 1:30 p.m.–6:00 p.m. and Wednesdays 14 and 21 December out of 5pm-9pm

A fairy tale about two cities
The neighboring town of Grass Valley, which is equally charming, celebrates a similar Cornish Christmas that begins the Friday after Thanksgiving and runs through December 20th. Mill Street and Main Street are closed off and the cool mountain air is filled with the scent of roasted chestnuts, kettle corn and pasties. Make it a weekend of super-retro Christmas celebrations and have the best time – experience both events in one weekend. For more information on Cornish Christmas, visit the Grass Valley Chamber of Commerce website.

Have you ever celebrated the season in Nevada City? Tell us about it in the comments below!

–Erin Thiem and Amber Guetebier

All photos courtesy of Nevada City Chamber of Commerce unless otherwise noted

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It’s Christmas time in the city, but if all the bright lights and bustling streets (or maybe the marathon of It’s a Wonderful Life you couldn’t resist watching) have you hankering for a small town Christmas, there is no better destination than Nevada City, California and its annual Victorian Christmas celebration. This gingerbread-trimmed hamlet in the Sierra foothills, about 2 ½ hour drive from San Francisco, is like a portal back in time. Read on to find out where to stay, eat and play.

Leading up to Christmas, two Wednesdays and the three Sundays in December, the better part of the downtown area is closed to through traffic and open to a bevy of activity. Carolers, roving minstrels, jugglers, costumed characters, horse-drawn carriage rides, local musicians including many children, and other local talent perform throughout the streets, while families wander from vendor to vendor sampling, sipping, noshing, and buying their wares. Equally attended by locals and tourists alike, the atmosphere is warm and welcoming.

Santa Baby
On the lower end of Broad Street (the main drag) Santa will be available for photo ops. For $5 kids and groups can take their photo with Santa. The money goes to local charity—and photos are not a requirement. If your little ones are camera-shy, or want to check Santa sighting off their list twice, any child can chat it up with Ol’ Saint Nick.

Bonus: There will also balloon art and a bouncy house for the kids, plus keep your eyes out for jugglers and magicians.

Chestnuts Roasting on an Open Fire
In addition to the spiced cider, mulled wine, and grilled delights, each night features chestnuts roasted over a real open fire. Cecil Snow, the town’s favorite Victorian chimney sweep, will tend the fire and vend the chestnuts. Not to be missed.

Deck the Halls
In addition to one-of-a-kind gifts for sale by local artists and crafters throughout the streets, at the top of Broad Street the United Methodist Church will host an open house which includes a Craft Faire. It’s the perfect place to come in from the cold, enjoy the festive atmosphere with Santa, cider, cookies, and music plus beautiful decorations, and use the restroom! Or stop by the Nevada City Craft Fair on Sunday, December 11th in the historic Miners Foundry for a great selection of artisans gifts.

Photo by Erin Thiem, outsideinn.com

Park Your Carriage
Parking can is very limited and can be frustrating with a crew full of carolers ready to hit the streets, so drop them off and then park your car at the Nevada County Government Center, then hop the shuttle back into town. There is a $5 fee when going into town, but free for all heading back to the car! Visit the Nevada City Chamber of Commerce website for more details.

To All a Good Night’s Sleep
This area is rife with bed and breakfasts, hotels, and motels. Family and pet-friendly, The Outside Inn is a motel-style lodging within easy walking distance to all of Nevada City’s downtown.  Or if you’re looking for something unique, rent a RV and try the new Inn Town Campground, less then 2 miles from downtown Nevada City.

The Northern Queen Inn has reasonable rates and their own show of holiday lights—plus you can choose from traditional rooms or little cabins in the pines! Though it’s a little farther afield that The Outside Inn, it is still reasonable walking distance to downtown.

What to Don
Dress festive, but don your warmest of apparel. It is not unusual for snow to fall this time of year!  Woolen cloaks and capes and top-hats are appropriate, too! Do bring mittens, hats, and scarves for the kids and wear good walking shoes. Most of the activities are outside, and Nevada City is hilly. The main street, Broad Street, is one long gradual hill so wear comfy shoes.

When:  Sundays, December 4th, 11th, & 18th from 1:30-6 p.m. and Wednesdays December 14th & 21st from 5–9 p.m.

A Tale of Two Cities
The neighboring town of Grass Valley which is equally charming has a similar Cornish Christmas celebration, beginning the Friday after Thanksgiving and continuing through the 20th of December. Mill and Main Streets are closed off and the chilly mountain air is filled with the smell of roasting chestnuts, kettle corn, and pasties. Make it a weekend of uber-retro Christmas celebrations and enjoy the best of times–take in both events over a weekend. Check out the Grass Valley Chamber of Commerce website for more details on Cornish Christmas.

Have you ever celebrated the season in Nevada City? Tell us about it in the comments below!

–Erin Thiem and Amber Guetebier

All photos courtesy of Nevada City Chamber of Commerce unless otherwise noted

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Mrs. Hoggshead, proprietress of Cuthbert’s Tea Shoppe (established 1774), said in real life she goes by the name of Sue Honor, is a lawyer, and has lived in Pacifica for 12 years. Ms. Honor also noted she has participated as a character of the Annual Great Dickens Fair & Victorian Holiday Party since 1977. While she has been proprietress of her Tea Shoppe since the Fair’s first days at the Cow Palace — she has also spent her “Fair” days as other characters, including the Queen. She named her tea shoppe after her husband Cuthbert Hoggshead, also a Pacifican, when he is, of course, not in Victorian London.

The couple’s daughter, Sarah, has joined in the family business over the years playing such characters as Nancy and Bet, both of “Oliver Twist,” as well as Royal Princess. Sarah’s 5-year-old daughter, Angelisee, will join Mrs. Hoggshead in the kitchen this year as Assistant Baker.

“Our son Benjamin has also been many characters over the years,” the proprietress stated, mentioning Smike from “Nicholas Nickleby,” as well as Oliver Twist and the Artful Dodger both of “Oliver Twist” fame.

It should be noted that one of those characters, at least, might have been quite the Dickensian pickpocket. But the tea shoppe owner was not one to point a finger, unless she was pointing out one of the lovely items on the Cuthbert’s Tea Shoppe menu. Items which include scones with butter, cream, lemon curd and jam, sticky toffee pudding, trifle, and tea sandwiches of every variety including salmon, cucumber, watercress, and egg mayo — all naturally served with teas of the finest pedigrees.

“We are renowned for our rum cake,” Mrs. Hoggshead stated emphatically. “In fact, it was featured on the Food Channel. We also offer sandwiches for the kids such as peanut butter and honey, and cream cheese and jam. Delicious! And such a variety of teas — Orange Spice, Darjeeling, English Breakfast, jasmine and an African red tea. And there’s always hot chocolate for the youngsters.”

While Mrs. Hoggshead may spend her work week as an attorney, on the weekends leading up to the Fair, she and her husband are builders.

“We have pre-made, 8-foot by 4-foot wall flats,” Hoggshead said. “We screw them together, then do the electrical — wall lights and chandeliers. We also put up the kitchen shelves and put the plumbing in. We are the first full-service restaurant at the Dickens Fair.”

The Hoggshead family takes care of all the paint, the decorations and has brought in every bit of furniture, except the chairs. When not in use, the family stores everything from tables, to refrigerators and stoves in giant crates. Forty people work in the shoppe with Mrs. Hoggshead, who is not easily seen as she is in the back cooking.

“I go by the title, ‘Grand Poobah,’” she laughed.

The idea of the Tea Shoppe came to the Missus, when she was playing Queen Victoria at the Fair’s former locale, San Francisco’s Pier 45.

“The Queen’s party would enjoy tea and the audience members who watched wanted tea as well,” the former Queen said. “When the Dickens family went to the Cow Palace, we decided then and there, we would have a tea shoppe. Our first shoppe was probably one-sixteenth the size it is now and we had lines out the door.”

Hoggshead makes some of the desserts, she came up with the sandwiches and she recently brought in a junior scone maker.

“I enjoy making the scones,” the Grand Poobah said. “For me, baking is a stress reliever.” (Mrs. Hoggshead arrives at the Fair between 8:30 and 9 a.m. and doesn’t sit down until 6 p.m.)

Charles Dickens often stops by Cuthbert’s, as does the “transformed” Ebenezer Scrooge. During Grand High Tea, at 4 p.m., carolers sing by the hearth and not long after, chimney sweeps come in through the fireplace.

“The chimney sweeps are covered in soot and they try to get the customers to ‘kiss a sweep for luck!’”

Sometimes the rougher side of town comes to the shoppe, with the intention of stealing china, teapots and silverware.

“We tell our staff if they let someone steal anything, we will sack them with no references!” Hoggshead said with a laugh.

When anyone in the shoppe hears there is a birthday, they are known for their loud singing of “He (or she) is a Jolly Good Fellow.”

“We really like chiming in on that one from the kitchen,” Hoggshead giggled.

This year, across from Cuthbert’s Tea Shoppe, is a new jams and jellies shoppe. There is also a toy shoppe in the area, a parasol kiosk, a pasta booth, a personalized ornament shoppe and more.

“We also have the Father Christmas Stage, Punch and Judy and the Painting Garden for the kids,” Hoggshead said. “Our area, just like the Fair, is brimming with holiday spirit and joy. You can’t beat it!”

Due to public demand, Cuthbert’s Tea Shoppe (at the 33rd Annual Great Dickens Fair & Victorian Holiday Party, which runs four upcoming weekends at San Francisco’s Cow Palace, 2600 Geneva Ave., Daly City, beginning Nov. 25, 11 a.m. to 7 p.m.) is now offering on-line reservations so patrons of the Fair can make a reservation for tea in advance of their visit. Guests with online reservations are seated in Cuthbert’s new Solarium dining area. They receive the same fixed menu as the High Tea in Cuthbert’s main dining room. Times for these seatings are at 11:45 a.m. to 1 p.m., 2:15 and 4 p.m. daily. Reservations must be made at least one day in advance. Visit Cuthbert’s Tea Shoppe at http://www.cuthbertsteashoppressenterprise.com/. Visit the Dickens Fair website at http://www.dickensfair.com.

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When your neighbors include San Francisco’s famous Painted Ladies, known by millennials as the Full House houses, the siren call of bold color is impossible to ignore. In steering the refresh of a 1900 Victorian down the road, Kelly Finley, principal of Joy Street Design, heard it loud and clear. “Our motto is no white kitchens,” says the designer, who splits her time between Oakland, California, and Atlanta. “Color is joy! Color is life!”

Originally, Finley’s team was only supposed to work on the home’s new addition. But an unusually strong storm blew the tarp off the structure mid-renovation, ruining many of the elements the young family of four had hoped to keep. It was undeniably a setback, but one that allowed Finley to go all-in on creating a unified home with an exciting palette. The drab all-white exterior was a must-go, replaced by two Benjamin Moore tones: cheery Imperial Yellow and welcoming Bedford Blue, the latter of which was extended from the front door down the front stairs. (As the home is set back between two larger buildings, this visually anchors it to the sidewalk.) Inside, touches of red—a lucky color in the husband’s Chinese culture—are interspersed with soft greens, blues, and mustard yellows. Often Finley would deploy all four colors at once: “Working within the footprint of a Victorian meant that the kitchen was small, and it was a challenge to achieve everything the clients wanted within the space,” she says. “I commissioned a custom mosaic from Fireclay to make the walls really pop.” Blue bookshelves in the parlor are backed with a warm ombré AiNO paper that mimics a desert sunset. “We decided to create more storage—you can never have enough—and then I found this perfect little red electric piano,” says Finley. The daughters are taking lessons this summer, but in the meantime, she says, “it makes for a great conversation piece.”

Wallpaper holds court from the dining room to the girls’ bedroom, where a confetti print adds childlike exuberance. By investing in materials and built-ins, rather than furniture that might get banged-up by the kids, Finley created a home that will grow with them—all without succumbing to a forgettable all-white palette. “I love designing for families; children especially need to be around color,” Finley says. “No child ever says white is their favorite color.”

Exterior

Thomas Kuoh

San Francisco’s North of the Panhandle (NoPa) neighborhood boasts many Victorians, like this one, which predates the 1906 earthquake and fires that destroyed 80 percent of the city. Paint: Imperial Yellow and Bedford Blue, both Benjamin Moore.

Living Room

Thomas Kuoh

Built-ins throughout the home keep things neat and help curate the family’s collection of knickknacks. Sofa and chair: Blu Dot. TV: Samsung. Rug: Jaipur Living. Cabinets: custom. Paint: Agreeable Gray, Sherwin-Williams.

Thomas Kuoh

Parlor

Thomas Kuoh

An electric red Kraft Music piano and loads of built-in storage are instant ice-breakers. Ottoman: Arteriors. Chandelier: Four Hands. Rug: Jaipur Living. Cabinets: Mark Johnson Cabinets. Wallcovering: Blur Rods by AiNO.

Kitchen

Pictured above.

Finley snuck in small luxuries like a Zip Water faucet that dispenses sparkling water. Stool: Design Within Reach. Countertop: Caesarstone. Mosaic tile: Fireclay Tiles. Dishwasher and refrigerator: Fisher & Paykel.

Thomas Kuoh

Thomas Kuoh

Banquette

Thomas Kuoh

Designer Kelly Finley tucked a cozy nook under a newly renovated staircase. Chair: Nuevo Living. Dining table: Crate & Barrel. Map: Minted. Chandelier: Arteriors. Paint: Simply White, Benjamin Moore.

Dining Room

Thomas Kuoh

Framed black-and-white family photos offer a calm moment amidst bright hues. Wallpaper: Wallaby Walls. Sideboard: Crate & Barrel. Dining table: Four Hands. Dining chair: Sunpan.

Girls’ Room

Thomas Kuoh

It’s not easy to keep pace with three- and five-year-olds, but the Olivia + Poppy Flake wallpaper does just that. Chandelier: Shades of Light. Neon rainbow: Target. Bed: Oeuf. Bedding, table lamp, and nightstand: Crate & Barrel. Rug: Jaipur Living.

Thomas Kuoh

Bathroom

Thomas Kuoh

A soothing, spa-like atmosphere is conjured with sconces and soft green tiles. Unable to expand out, Finley raised the ceiling up. Vanity: custom. Countertop: Benattar Marble & Granite. Sconces: Arteriors. Tile: Fireclay Tiles. Faucet: Brizo.

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For the first time in half a century, an “anti-Victorian” Victorian-era home in San Francisco has come on the market for $9 million.

The 5,000-square-foot home, designed by Newton Tharp in 1899, is listed at 2590 Union Street in Cow Hollow, SFGate reported. The last sale was in 1970.

Its clean, stately lines and unadorned clapboard facade underscore Tharp’s anti-Victorian design, which became popular after the 1906 earthquake and fire.

“Tharp wasn’t a fan of Victorian architecture,” Compass listing agent Max Armor told SFGate. “He found this style pretentious and preferred a simpler, more dignified style.”

From the entrance to the formal dining room and the balustraded staircase, exposed beams and timber frames are at odds with the Victorian grandeur, SFGate says.

Tharp’s no-fuss aesthetic is maintained throughout the five-bedroom, four-bathroom home, despite modern touches in the large kitchen, luxe bathrooms, and rooftop deck.

The 0.17-acre property offers stunning views of the city from the top of the four-story home. The plain facade is embellished only by stained glass and dark wood accents.

Tharp studied at the San Francisco School of Design and traveled through Europe to complete his architecture education. This drew him to Edwardian, Tudorist and Craftsman design rather than the splendor of Victorian architecture.

For Tharp, Victorian homes were ostentatious and pretentious. The architect initially worked for Edward Swain. When Swain died, it was Tharp who “perfected the plans for today’s ferry construction”. according to his obituary.

Tharp, who became San Francisco’s city architect, helped rebuild the city after the earthquake. He designed numerous civic buildings, including the Hall of Justice, the Dewey Monument in Union Square, the Grant Building, and the Sloane Building, as well as many private homes.

His brown clapboard home in Cow Hollow features a large eat-in kitchen with high ceilings, natural light and direct access to the south-facing front yard and large back yard. according to listing. It includes a mud room, mechanic room and a two car garage.

— Dana Bartholomew

Continue reading

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After years of serving as a rental unit, the third level of a 1906 San Francisco town house was finally purchased by a couple who deeply appreciates its Victorian architecture. But before they could enjoy the bay windows, patinated hardwood floors, and ornate molding, they needed to peel back layers of haphazard updates. Interior designer Clara Jung stepped in to refresh the home, highlighting the original details while adding a cool-toned contemporary edge.

BEFORE: Original bay windows provide treetop views.

“The clients wanted to bring it back to life, but, obviously, overlay a modern take on it,” explains the Banner Day Interiors founder and principal. “We weren’t going to recreate historically accurate elements, like tiles and trim, but we wanted to pay homage and make sure that the new look integrated well with what was left of existing features.”

Clara also maintained the traditional layout of the long, narrow footprint. It’s separated into distinct rooms, aside from the blended kitchen-dining-living area. The previous owners had knocked down dividing walls to create an open-concept social hub, which Clara gladly embraced. “Honestly, there was no structural work done,” she reveals—but the transformation was still dramatic.

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After years of serving as a rental unit, the third level of a 1906 San Francisco town house was finally purchased by a couple who deeply appreciates its Victorian architecture. But before they could enjoy the bay windows, patinated hardwood floors, and ornate molding, they needed to peel back layers of haphazard updates. Interior designer Clara Jung stepped in to refresh the home, highlighting the original details while adding a cool-toned contemporary edge.

BEFORE: Original bay windows provide treetop views.

“The clients wanted to bring it back to life, but, obviously, overlay a modern take on it,” explains the Banner Day Interiors founder and principal. “We weren’t going to recreate historically accurate elements, like tiles and trim, but we wanted to pay homage and make sure that the new look integrated well with what was left of existing features.”

Clara also maintained the traditional layout of the long, narrow footprint. It’s separated into distinct rooms, aside from the blended kitchen-dining-living area. The previous owners had knocked down dividing walls to create an open-concept social hub, which Clara gladly embraced. “Honestly, there was no structural work done,” she reveals—but the transformation was still dramatic.

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By Anthony O. Goriainoff

Victorian Plumbing Group PLC said Tuesday that pretax profit fell for the first half of fiscal 2022 after booking higher costs and a fall in revenue, and backed its guidance for the year.

The UK online retailer of bathroom products said that for the six months ended March 31, pretax profit was 2.7 million pounds ($3.3 million) compared with GBP14.5 million for the first half of fiscal 2021.

Adjusted earnings before interest, taxes, depreciation and amortization–a metric that strips out exceptional and other one-off items–fell to GBP6.7 million from GBP20.1 million the year-prior period. The company said this reflected a reduction in gross profit margin, and the strategic rise in its marketing activity.

Revenue fell to GBP133.9 million from GBP140.7 million the year before. The company said this was due to lower demand in a tough comparable period resulting from market outperformance during Covid-19-related lockdowns.

The company said in February that it expected to deliver modest year-on-year revenue growth through the second half.

“There are well reported ongoing inflationary cost pressures and we remain acutely aware that our customers are also managing these pressures. The group will therefore continue its careful approach to price rises through the second half,” the company said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

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Clara also maintained the traditional layout of the long, narrow footprint. It’s separated into distinct rooms, aside from the blended kitchen-dining-living area. The previous owners had knocked down dividing walls to create an open-concept social hub, which Clara gladly embraced. “Honestly, there was no structural work done,” she reveals—but the transformation was still dramatic.

BEFORE: “It was clear that there wasn’t an eye towards design during the prior remodel of this home,” Clara admits. “It was more of a ‘get it done and rent it out’ philosophy.”

NACH: “On the left side of the kitchen is this custom artwork that they commissioned, which is so cute,” Clara says. “It’s by this well-known artist in San Francisco named Paul Madonna. He did a sketch of the front of their house.”

Christopher Stark

In the cookspace, Clara ripped out the chocolate-hued cabinets that reeked of the early aughts, replacing them with a mix of sleek white and rich walnut cupboards. She paired them with boldly veined marble countertops, bar stools for entertaining, and seafoam green pendants that match the adjacent plant room, where flora thrives in abundant natural light.

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MARKET REPORT: Recovery in the pipeline at online bathroom retailer Victorian Plumbing after 85% wiped off share price in the last year

By Jordan Brodie-farooqui At Proactive Investors For The Daily Mail

Published: 22:12 BST, 17 May 2022 | updated: 22:12 BST, 17 May 2022

Are we starting to see the green shoots of recovery at Victorian Plumbing, the online bathroom retailer that has seen almost 85 per cent wiped from the share price in the last year?

The market appears to think so with the stock up 4.4p, or 8.7 per cent, at 54.8p after an interim results statement revealed a 67 per cent fall in underlying profits to £6.7million.

The Victorian has been battered by a perfect storm of factors out of its control—namely supply chain issues and inflation.

Calming: Victorian Plumbing stock is up 8.7% and the company said things will improve as the financial year unfolds

But yesterday the company said things will improve as the financial year unfolds. Chief executive and founder Mark Radcliffe has staked not just his reputation, but cold hard cash on the recovery.

In December he bought 3million shares in the company for 96.65p each, which are worth roughly half that now. He followed this in early April with the purchase of 700,000 shares at 50.6p, leaving him with a stake of almost 47 per cent.

The FTSE 100 extended its positive run to a third trading day as it advanced 53.55 points, or 0.7 per cent, to 7518.35.

Imperial Brands led the way after a well-received set of interims that burnished the cigarette maker’s credentials as a defensive investment. The shares rose 135p, or 7.9 per cent, to 1847.5p.

Fresnillo (up 21.6p, or 2.9 per cent, at 778.4p) benefitted from a positive recommendation, with Canadian bank RBC slapping an ‘outperform’ rating on the precious metals miner.

Prudential (up 50.9p, or 5.2 per cent, at 1016.5p) was firmer after Bank of America issued a ‘buy’ note, albeit edging its price target down from 1660p to 1600p.

The warning of ‘apocalyptic’ food prices from Bank of England governor Andrew Bailey on Monday hit the retailers and suppliers in equal measure.

Tesco (down 8.4p, or 2.9 per cent, at 278.3p) led the Footsie losers, though Reckitt Benckiser (off 2.1 per cent), Unilever (down 1.8pc) and Sainsbury (1.8 per cent lower) weren’t far behind.

Stock Watch – 4D Pharma

4D Pharma creates drugs from good bacteria designed to interact with the human microbiome found in the gut.

Called biotherapeutics, they are being developed to treat diseases ranging from cancer to conditions affecting the central nervous system.

Staff are in San Francisco at a conference showcasing promising data from an early-phase trial of a potential new treatment for asthma.

The shares were up 1.75p, or 5.3 per cent, at 35p, valuing the Leeds-based group at just under £65million.

‘Food prices, which Bailey apologised for being apocalyptic about, remain in focus as the impact of India’s wheat export ban is felt and the conflict in the “breadbasket of Europe” continues to rage,’ said Russ Mold of AJ Bell.

The FTSE 250 outperformed the blue-chip index with a rise of 141.48 points, or 0.7 per cent, to 20065.59 with bid interest sparking demand for some second liners.

The catalyst was a £1.75bn private equity bid for power generator ContourGlobal (up 63.6p, or 32.9 per cent, at 257p).

It is estimated there is around £1trillion of unallocated private equity cash waiting to be deployed, and the largely unloved 250 stocks are seen as ripe for the picking.

It wasn’t a day of unalloyed joy among the mid-caps. TI Fluid Systems, which makes fuel tanks for vehicles, saw a 4.1 per cent drop in revenues greeted by a 28p, or 14.9 per cent, drop in the share price to 160p.

It has been hit by the gamut of supply chain issues including the war in Ukraine and the Covid shutdowns of some Chinese cities.

On AIM, Kinovo saw its shares slump 4p, or 23.2 per cent, to 13.25p after a former subsidiary went into administration.

Giving back some of the ground it gained on Monday, Covid drug developer Synairgen fell 3.98p, or 11.4 per cent, to 31.02p.

The market’s biggest riser was found among the tiddlers. BSF Enterprise surged 3.5p, or 63.6 per cent, to 9p after the cash shell formally completed the reverse takeover of biotechnology assets spun out of Newcastle University.

Its most interesting piece of technology is an animal-free cell growth agent for culturing skin, muscle and fat cells which will be used for lab-grown meat and leather production.

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