FTSE 100 in a lethargic mood; American indices open higher


The British main stocks index closed down 74 points to 5,752. Over the week, the benchmark index was down, at 0.58%

  • FTSE 100 down 74 points
  • American hints muted
  • advance after filling his coffers

5:20 p.m .: FTSE 100 closes in red

The FTSE 100 closed in red on Friday as the US benchmarks were stifled, while the pandemic crisis continues to moderate sentiment.

The UK major stocks index closed down 74 points to 5,752. Over the week, the benchmark index was down 0.58%.

The FTSE 250 lost 106 points to close at 15,687.

“Hope for a potential Covid-19 treatment was at its height this week last week, as Gilead Sciences’ antiviral drug Remdesivir would have helped patients with fever and respiratory problems,” said David Madden, analyst at CMC. Markets.

“These hopes were dashed in a medical trial in China that revealed the drug’s failure,” he added.

The sentiment was also a bit weak on Wall Street. but American indices are in better shape than their European equivalents, he noted.

The Dow Jones Industrial Average is stable at 23,514. The S&P 500 is up about four points.

2:50 p.m .: US markets continue to defy gravity

The American indices lost their lead on the European markets and opened up.

The Dow Jones industrial average was 93 points (0.4%) higher at 23,608 and the S&P 500 was 11 points firmer (0.4%) at 2,809.

Whatever the American investors injecting into their blood circulation – Cillit Bang, Domestos or Ajax cleaning fluid, perhaps – London traders avoid because the FTSE 100 index remains tied at the level of 5800, down 27 points (0 , 5%).

In contrast, the mid-cap FTSE 250 is slightly higher – up 2 points to 15,796, led by luxury automaker Aston Martin Global Holding PLC (), up 14% to 61.5p after the update. strategy day yesterday.

Elsewhere, among mid-cap companies, the bus and train operator PLC () was up 5.7% to 62.55p after activity and liquidity updates.

READ FirstGroup strengthens cash cushion to £ 800 million with government loans

Cinema owners Cineworld PLC (), down 8.1% to 53.68p, and pubs and the brewing group (), down 7.9% to 30.02p, lived in the most hidden corners deep in the FTSE 250 cellar.

The two were touched by suggestions that the UK foreclosure could last until the end of the year in one form or another, with places of leisure being among the last to be allowed to reopen.

1:45 p.m .: US indices should open higher

US markets are expected to open higher, with sentiment not seemingly affected by the apparent failure of a possible treatment for coronaviruses.

Bets on spreads suggest that the Dow Jones industry average will rise 142 points to 23,657 initially, while the S&P 500 should open around 2,817, up 19 points.

And this despite orders for US durable goods which fell 14.4% in March after rising 1.1% in February. Economists had sketched a figure of -12% for the change.

In London, the FTSE 100 continued its slow recovery towards the close of last night. The index fell 19 points (0.3%) to 5,807.

12:30 p.m .: The slow recovery continues

The Footsie cut losses one day when EU leaders agreed to a massive stimulus package for an economy devastated by coronaviruses.

The FTSE 100 was down 25 points (0.4%) to 5,802, returning above 5,800 after dropping to 5,729 at some point today.

“The actions are shrinking their earnings on Friday, with a sour temper at reports that Gilead’s remdesivir failed in its first randomized clinical trial,” Craig Erlam told OANDA.

“This time last week, investors were very hopeful after the publication of very promising results, causing Gilead’s share price to rise 12%. What a difference a single week can make. These gains have been practically canceled out, “he added.

“Gilead has since pointed out that the results were inconclusive and the study was halted early due to low enrollment, but the damage has been done. This is a market – and the world population in this case – that is hungry for good news and that sounds like another big setback, “he added.

Earlier today, the tone was set by disturbing retail figures. Sales volumes fell 5.1% in March, the largest drop in a month since the records started.

“If we see this type of sales collapse in March – when only eight days have been blocked – April is really complicated. March is unlikely to hold the record for monthly sales declines, ”predicted (with some certainty) Sarah Coles, personal finance analyst at Hargreaves Lansdown.

“It is extremely difficult for retail businesses. Many are likely to have benefited from government programs, loans and grants, but many will still face impossible rent bills and incredibly difficult questions about whether they can continue. This raises the question of how many will still be standing when we finally emerge from this crisis, ”she added.

Meanwhile, Cillit Bang maker Group PLC () is the second best performer on Footsie with an increase of 1.8% to 6,518p. In addition, Cillit Bang trends on Twitter after President Trump advocated irradiating people’s bodies with ultraviolet light or injecting them with bleach or alcohol to fight coronavirus.

11:15 a.m .: Reduced losses in sterling reflux

The frightening losses were offset by the attractiveness of Footsie’s stocks burnished by the weaker pound against the US dollar.

The British pound lost about a sixth of a cent against the greenback.

The FTSE 100 lost 46 points (0.8%) to 5,780, with about a quarter of the index components in positive territory.

Among those who challenge the trend are manufacturers such as PLC (), up 1.3% to 522.6p, and PLC (), up 0.9% to 149.1p, after the latter announced yesterday that it would begin the reopening of certain sites.

(), the company formerly known as Bovis, also announced yesterday that it will resume work on many of its sites.

The fashion firm (LON: BRBU), which fell 3.0% to 1,300p, was worse than the trend, after saying it would not count on government support for jobs in the UK. Uni, where more than a third of its employees are based. .

9:50 a.m .: Blue-chips stabilize after a weak start

Aerospace stocks are among the losers this morning, with traders accepting the prospect of a longer lockdown than expected.

The FTSE 100 lost 89 points (1.5%) to 5,737, with (), the owner of an automotive and aerospace engineer, leading the retreat with a 7.2% drop to 85.1p.

The heavily weighted oil giants also weighed on the index (), down 4% to 1,344.2p, and (), down 3.5% to 306.65p, while the recovery in oil prices stagnate.

The giant drug PLC () was lower but outperformed Footsie after announcing new positive results from Lynparza’s PROfound phase III trial (olaparib) in men with metastatic castration-resistant prostate cancer.

Stocks fell 0.6% to 8,135 percent.

The academic publisher () fell 2.7% to 439.3p after his trade statement turned out to be a mixed bag.

The company has said it will pay its last dividend for the past year as an increase in e-learning in the first quarter during the coronavirus pandemic was offset by the closure of its testing centers.

8:40 a.m .: Friday thrills

The FTSE 100 index fell early in the session on Friday after a record drop in sales in the UK and after hopes of treatment for coronavirus were dashed.

The British blue chip index opened 86 drops to 5,740.75.

Retail sales in the UK fell by a record 5.1% in March – although analysts expect the worst to come after the closure of the coronavirus (COVID-19).

“Stores were already suffering before the coronavirus due to the change in consumer behavior. An increasing number of people are turning away from the main street and shopping online, which offers more convenience and ease, “said Dr. Kerstin Braun of Stenn Group, a trade finance provider.

“The COVID-19 pandemic has only accentuated the decline of the main street and is likely to accelerate these inevitable changes, with a high level of traffic on the streets which is experiencing its most marked decreases,” he said. added.

The retail sector was not very disturbed, however, as the share prices of the big hitters in the industry hardly changed during the first exchanges.

Bombed out Marks & Spencer () actually found support from bargain hunters and pushed 2.3% more.

The FTSE 100 opened significantly lower after hopes of a drug giant had found a cure for coronaviruses were dashed. Gildes Science’s remdesivir would have succeeded in a small-scale trial; However, according to leaked documents, he failed in a larger Chinese deployment.

At the top of the list, aeronautical engineers Meggitt () and Melrose (), which were down 4.8% and 4.6% respectively in a context of liquidity fears.

Not far behind, struggling airlines IAG () and easyJet (), down 4% and 3.6% respectively, as hopes of quickly ending the coronavirus lockout faded. The stuffing around having to potentially leave the center seat vacant when the planes return to the air also added to the mix.

Proactive news headlines:

() said he had launched a research program to develop a vaccine against the coronavirus. The project, led by the company’s scientific director, Lindy Durrant, will aim to use the company’s clinical expertise in cancer to produce a cost-effective and scalable vaccine to induce both sustainable T-cell and antibodies neutralizing viruses against the coronavirus. Initial research is underway, with the company anticipating a phase 1 clinical trial in the first quarter of 2021.

SDX Energy PLC () confirmed the success of well tests at the recently drilled SD-12X (Sobhi) well, in the South Disouq project in Egypt. Sobhi sank at a maximum flow rate of 25 mln cubic feet of gas per day (on a 54/64 “choke), in an initial test of one hour, followed by a stable rate of 15 mln cubic feet per day on three hours (on a 28/64 “starter”) and 10 mln over four hours (on 16/64 ”). The company said that after reviewing the data, it expects the well to produce at an optimal stabilized rate of 10-12 mln cubic feet per day.

() said his holding company, Lucyd, will launch its line of Bluetooth-compatible glasses on the website of the US supermarket chain (). The investment company said the expansion offered a “new opportunity” to reach Walmart customers, who would account for about 6% of the entire US e-commerce sector. In a statement, Tekcapital said Lucyd is “aggressively expanding” its direct online presence to consumers, adding that the company has also listed its flagship Loud 2020 line of eyewear on the eBay market and the mercari app.

() and Group PLC () are collaborating to distribute the antibiotic-induced hearing loss test (AIHL) from Genedrive in the UK and Ireland. The companies also plan to expand the scope of the contract over time to engage the network of more than 50 neonatal sub-distributors worldwide. The Genedrive MT-RNR1 AIHL test is the world’s first point-of-care genetic test designed for use in a neonatal intensive care setting. The test screens newborns for a genetic mutation called mt-RNR1 that can cause irreversible deafness in a child for life when certain antibiotics are given.

i3 Energy PLC () has told investors that it is in talks with its credit note holders for consent to lift a condition that would require new financing by the end of this month. In a statement, the company noted that a November 2019 extension required i3E Energy, before April 30, to enter into a reserve-based loan facility or alternative financing to take up the Liberator field. However, the group said, “As the company will not be able to enter into such a facility by April 30, the company is in talks with all note holders to waive this condition and plans to provide a bet up to date before April. 30. “

PLC (NASDAQ: TLSA) () carried out a small housekeeping operation by issuing shares to repay part of its debt. He wiped out 1,595 mln of convertible loan notes, including accrued interest. At the same time, warrants were exercised, bringing just under £ 600,000 to the business. In the same announcement, investors were informed that Tiziana’s plan, listed on the AIM, to return to Bermuda, to cancel its American Depositary Receipt (ADR) program and to have its Bermuda common stocks listed on NASDAQ been delayed. He cited the coronavirus lockout and “other factors” for the heist.

() said it raised gross proceeds of £ 260,000 in a share issue to support the financing of exploration and working capital. Some 38.5 million warrants – including one share and one warrant – are sold to new investors and existing shareholders at a price of 0.675p each. 1p warrants can be exercised at any time over a period of 24 months.

() had to revise the share subscription announced on April 20 to ensure that it complies with regulatory prospectus rules and has declared that certain directors have also agreed to sell their options in order to maximize the amount capital that can be raised during the placement. The group sought to issue 19,183,179 new ordinary shares to raise £ 633,000 as part of the initial subscription but which exceeds the maximum authorized amount of 20% of its share capital currently issued. He now intends to issue 11,175,499 new ordinary shares resulting in a revised subscription of £ 368,000 at the same price of 3.3p.

Galantas Gold Corporation () (CVE: GAL), the producer and explorer of gold owning 100% of the Omagh gold mine in Northern Ireland, has announced its intention to build on the general recovery of the Canadian Securities Administrators securities due to the coronavirus (COVID -19) soaring for its deposits for the year ended December 31, 2019, which it now plans to do by June 12, 2020. The company added that it expects to deposit, before May 29, a brief technical report relating to a recent underground drilling campaign at the Omagh mine. As disclosed on January 16, 2020, the group said the campaign results, combined with detailed mapping of the exposed mineralization underground, suggest areas of wider mineralization in the vein, connecting adjacent levels. Galantas said this supports a model whereby such zonal mineralization could continue at depth, with increased exploration potential to target gold resources on site and in the company’s license area.

accesso Technology Group PLC (), the leading provider of technology solutions for the leisure, entertainment and culture markets, said its annual general meeting (AGM) will be held on Tuesday, May 19, 2020. She added that, account given the need to observe the UK Current government guidelines on social distance as well as the prohibition of all non-essential travel and public gatherings of more than two people, the AGA will be held at the headquarters of its secretary general. The group has declared that its board of directors will ensure that a quorum is present and that no additional shareholders will be able to attend the meeting and it strongly encourages all shareholders to complete and return a form of proxy for ‘ensure that all votes are included.

(), a pioneering drug discovery company, has announced that it will announce its half-year results for the six months ended January 31, 2020, Wednesday April 29.

6.30 a.m .: Footsie ready to open lower

The shares are expected to open lower in London as one of the hopes for a vaccine to treat the coronavirus (COVID-19) exploded during a trial.

Betting quotes on the spread indicate that the FTSE 100 will open 108 points less at 5,719.

Draft documents accidentally released by the World Health Organization claimed that remdesivir, a drug developed by Gilead Sciences, had failed in a Chinese trial to improve the condition of patients infected with COVID-19.

“We think the message contains inappropriate characterizations from the study,” said a spokesperson for Gilead. The spokesman said the trial ended prematurely due to the low enrollment rate and was therefore not statistically significant.

The US markets were mixed yesterday, the Dow Jones Industrials Average rising 39 points to 23,515 while the S&P 500 plunged a few points to 2,798.

Asian markets were weak this morning. In Tokyo, the Nikkei 225 lost 155 points to 19,275, while in Hong Kong, the Hang Seng lost 66 points to 23,911.

Back in the UK, Friday will see the release of official UK retail sales data from early March to April 4 at 7:00 a.m. With most stores forced to close on March 24, as the country entered the coronavirus shutdown, the numbers are expected to be grim.

“The title should be read -4%, which would be a big drop compared to -0.3% published in February. The reading that removes the fuel should be -3.5%, “said David Madden of CMC.

Blue-chip scheduled updates are slim in the field, but there will be a quarterly update from (), which announced last month that it was suspending its share buyback program to better manage cash during the coronavirus pandemic.

Educational publisher and test center operator, still awaiting the appointment of a new general manager to replace outgoing boss John Fallon, said he had seen a “significant increase” in the use of his digital products and its online learning services.

Important announcements expected on Friday:

Trading announcements: (), PLC (), ()

AGM: PLC (), (), ()

Economic data: American Michigan consumer sentiment

Around the markets:

  • Pound Sterling: US $ 1.2345, n / c
  • Gilding at 10 years: 0.294% yield, down 3.16 basis points
  • Gold: US $ 1,745.80 per ounce, up 40 cents
  • Crude Brent: US $ 25.74 per barrel, up 85 cents
  • Bitcoin: $ 7,523 US, down 34 cents

City titles:

  • Financial times
  • Chancellor Rishi Sunak caved in under pressure from Conservative MPs and offered to offer 100% loan guarantees on Britain’s smallest businesses.
  • Germany has been warned by Federal Chancellor Angela Merkel not to spoil its success in containing the spread of the coronavirus by moving too fast to lift its blocking measures
  • , A Russian state-controlled oil producer, is expected to close its trading arm.
  • The temperature
  • More than one in four workers have been temporarily laid off in the UK, according to official figures which highlight the depth of the problems facing the economy.
  • AJ Bell, one of Britain’s largest investment platforms, has attracted a record number of customers and £ 1.3 billion in new money despite the chaos in the financial markets.
  • According to the CBI, all companies should be given three months’ leave on business rates as part of nearly £ 16bn in potential new aid.
  • Equinor has become the first major oil company to cut its dividend due to difficult industry conditions.
  • said the coronavirus lockdown worldwide has shut down about 55% of its business.
  • Hundreds of British aerospace jobs are cut after engineer Meggitt says it is cutting 15% of its workforce and Safran, the French group, has announced layoffs in factories in England and the UK Wales.
  • The dispute between Hiscox and some of its business customers over insurance payments intensified after angry policyholders prepared to take legal action against the insurer.
  • Sources say Apple may start releasing Mac computers with its own chips from next year, abandoning Intel’s processor.
  • The Daily Telegraph
  • The eurozone could sink into a new financial crisis after a devastating fall in production this month when economic activity is almost at a standstill, experts warned.
  • Distressed stores, restaurants and pubs hit by coronavirus foreclosure must be protected from “aggressive” actions by landlords to recover unpaid rent under the new rules.
  • German airline Lufthansa is facing a severe liquidity crisis and is demanding an urgent bailout from the state from various European governments.
  • The Guardian
  • The UK is looking to borrow £ 225 billion from bond market investors in just four months to finance the huge increase in public spending during the coronavirus pandemic.
  • Big names in retail, car manufacturing and manufacturing in Britain have announced plans to return to work, saying companies are set to revive an economy crippled by the coronavirus pandemic.
  • The coronavirus pandemic will trigger “lasting changes” in purchasing behavior, according to Unilever.
  • Daily Mail
  • Blackmore Bond, another savings company offering so-called mini-bonds, has fallen under administration.


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