FTSE 100 slides as virus jitter weighs in


UK bonds win, FTSE 100 slips as virus nervousness weighs in

UK government bond yields slide amid the global pullback sparked by growing fears that a global rise in Covid-19 infections will hurt economic growth. The 10-year gilt yield falls to a seven-day low of 0.577%, according to Tradeweb on Monday, coinciding with the lifting of all legal restrictions on coronaviruses despite the wide spread of the Delta variant causing an increase in cases. London’s blue-chip stock index, the FTSE 100, plunges nearly 2.5% to 6,831.97, its lowest level since mid-May. “British stocks appear far from impressed by ‘Freedom Day’, with the final removal of Covid restrictions raising fears of a more pronounced epidemic which raises hopes of an economic recovery,” said Joshua Mahony, analyst at main market at IG online trader.

 
Companies News: 

Lithium miner Bradda Head shares rise on debut in trading

Shares of Bradda Head Holdings Ltd., a North American-focused lithium development group, rose on Monday as they began trading on London’s AIM junior market.

Roquefort investments encouraged by the first acquisition opportunities

Roquefort Investments PLC said on Monday it was encouraged by the initial due diligence it performed on certain opportunities while considering acquiring a biotech company.

MP Evans 1H group’s crude palm oil production increased; Maintains the dividend

MP Evans Group PLC said on Monday that crude palm oil production for the first half of 2021 had increased by 29% and that the board maintained its intention to recommend a full dividend.

Watkins Jones appoints future president and chief financial officer

Watkin Jones PLC announced on Monday that it has appointed Alan Giddins president-elect with immediate effect and Sarah Sergeant chief financial officer designate effective October 6.

Logistics software company Microlise raises £ 18.6million on London IPO

Microlise Group PLC, a provider of transportation management software, announced Monday that it plans to raise £ 18.6million ($ 25.6million) via an IPO on London’s junior market AIM at a valuation of 156.5 million pounds.

Revolution Beauty shares tumble in London

Shares of Revolution Beauty Group PLC fell 6.3% on Monday as the company began trading on London-based junior AIM, implying a market cap of 464.1 million pounds ($ 639 million).

East Star Resources to Acquire Discovery Ventures Kazakhstan in Reverse Takeover Agreement

East Star Resources PLC, a London-listed ad hoc acquisition company, on Monday requested that its shares be temporarily suspended after reaching an agreement for the conditional acquisition of Discovery Ventures Kazakhstan Ltd., a deal that will constitute a takeover reversed.

Samuel Heath & Sons executive chairman dies

Samuel Heath & Sons PLC said on Monday that executive chairman Sam Heath passed away on Friday.

Biffa’s first quarter revenue exceeded internal expectations

Biffa PLC said on Monday that its performance in the first three months of fiscal 2022 was significantly ahead of management’s expectations as revenues rose from pre-Covid levels.

Sareum Holdings secures £ 1million investment to advance drug development

Sareum Holdings PLC said on Monday it had raised £ 1million ($ 1.4million) with a bounty from a wealthy individual to take its drug development programs to the clinical stage.

Zoom Video, Five9, Exxon, IBM: what to watch when the stock market opens today

Global stocks are significantly lower, along with government bond yields and commodity prices, amid renewed anxiety over the Delta variant of Covid-19 and inflation. Here’s what we’re watching ahead of Monday’s opening. Complete market envelope here.

Spire Healthcare shareholders reject proposed Ramsay acquisition

Shares of Spire Healthcare Group PLC fell on Monday after the company said shareholders rejected the recommended cash acquisition of the company by Ramsay Health Care Ltd.

 
Market Talk: 

EUR / GBP to weaken to 0.84 by year end, to 0.83 in 2022, according to UBS GWM

1232 GMT – UBS Global Wealth Management maintains its year-end target of 0.84 for EUR / GBP and expects EUR to weaken again next year to 0.83, due to the diverging central bank policy. “A stronger than expected economy has put the Bank of England in a hawkish mood, while the European Central Bank has become even more accommodating,” said Thomas Flury, UBS GWM strategist and economist Dean Turner. The ECB is likely to hold the stimulus “much longer” than the BOE, they say. UBS GWM expects EUR / GBP to remain in the 0.83-0.87 range in the near term, but with global growth in sync later, it could test the 0.80 level. Meanwhile, the 0.90 level is “hard bullish resistance”. EUR / GBP last traded 0.2% higher to 0.8588.

Unilever Expected to Report Higher First Half Sales

1252 GMT – Unilever investors will seek confirmation in the consumer goods group’s first half results on Thursday whether it is on track to meet its sales targets. Managing Director Alan Jope said Unilever plans to increase underlying sales in 2021 in line with a longer-term target range of 3-5%, with the first half around the peak, Hargreaves Lansdown said. “This week we will know if that goal is intact,” HL analyst Sophie Lund-Yates said, adding that the company’s recovery from the disruption caused by coronaviruses in regional markets such as India and Europe is likely to be interesting. “We expect the business situation to be further mixed,” she said.

Royal Mail’s Parcel Fortunes set to face first quarter spotlight

1257 GMT – Royal Mail’s parcel delivery business is expected to be the focus of a first quarter update for UK Mail and Parcel Mail on Wednesday 21 July. Royal Mail shares eased over the past month as investors try to assess how the reopening of the economy might affect its outlook, says Hargreaves Lansdown. “With the opening of the main streets, the e-commerce boom has shown signs of slowing down, although online retail sales remain significantly above pre-pandemic levels,” HL analyst Susannah said. Streeter, adding that cost control is also likely to be important. interest.

Royal Mail’s Parcel Fortunes set to face first quarter spotlight

1257 GMT – Royal Mail’s parcel delivery business is expected to be the focus of a first quarter update for UK Mail and Parcel Mail on Wednesday 21 July. Royal Mail shares eased over the past month as investors try to assess how the reopening of the economy might affect its outlook, says Hargreaves Lansdown. “With the opening of the main streets, the e-commerce boom has shown signs of slowing down, although online retail sales remain significantly above pre-pandemic levels,” HL analyst Susannah said. Streeter, adding that cost control is also likely to be important. interest.

Unilever Expected to Report Higher First Half Sales

1252 GMT – Unilever investors will seek confirmation in the consumer goods group’s first half results on Thursday whether it is on track to meet its sales targets. Managing Director Alan Jope said Unilever plans to increase underlying sales in 2021 in line with a longer-term target range of 3-5%, with the first half around the peak, Hargreaves Lansdown said. “This week we will know if that goal is intact,” HL analyst Sophie Lund-Yates said, adding that the company’s recovery from the disruption caused by coronaviruses in regional markets such as India and Europe is likely to be interesting. “We expect the business situation to be further mixed,” she said.

EUR / GBP to weaken to 0.84 by year end, to 0.83 in 2022, according to UBS GWM

1232 GMT – UBS Global Wealth Management maintains its year-end target of 0.84 for EUR / GBP and expects EUR to weaken again next year to 0.83, due to the diverging central bank policy. “A stronger than expected economy has put the Bank of England in a hawkish mood, while the European Central Bank has become even more accommodating,” said Thomas Flury, UBS GWM strategist and economist Dean Turner. The ECB is likely to hold the stimulus “much longer” than the BOE, they say. UBS GWM expects EUR / GBP to remain in the 0.83-0.87 range in the near term, but with global growth in sync later, it could test the 0.80 level. Meanwhile, the 0.90 level is “hard bullish resistance”. EUR / GBP last traded 0.2% higher to 0.8588.

Ocado shares tumble after warehouse fire

11:33 GMT – Ocado group shares are among the biggest drops in the FTSE 100 index, down more than 4% after the online grocer and retail tech specialist suffered a fire in the ‘one of its warehouses in England, according to a statement. Ocado said most of the site is in good shape and expects it to start working again in the coming week. While Ocado has said the fire disrupted its operations, the incident – which followed a fire at another company distribution center in 2019 – could further worry investors in terms of attempted lapses. company to secure more retail customers for its technology. , say analysts.

 

Contact: London NewsPlus, Dow Jones Newswires; + 44-20-7842-931

(END) Dow Jones Newswires

July 19, 2021 09:41 ET (13:41 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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