(Sharecast News) - London stocks fell in early trade on Friday amid ongoing concerns about a jump in new coronavirus cases.
At 0840 BST, the FTSE 100 was down 0.5% at 6,018.85.
CMC Markets analyst Michael Hewson said: "Markets in Asia have finished a choppy week very much on the back foot, as rising coronavirus cases in the US, and the southern states especially, appear to be now translating into a rise in fatality rates. The closure of schools in Hong Kong and the further tightening of virus restrictions in Australia has also fed into the underlying negative mood at the end of the week.
"Some are blaming the premature re-opening of some parts of the US economy, for the sharp rise in infections there, however some of the rise is probably more down to a lack of care in social distancing rather than the re-openings themselves, with infection rates here in Europe and the UK so far continuing to fall, despite a continued relaxation of the rules.
"As we come to the end of another choppy week, markets here in Europe have opened lower this morning, and look set to finish the week very much on the back foot, as it becomes increasingly apparent that any economic recovery is unlikely to be v-shaped in nature, with a wide range of companies starting to announce thousands of job losses this week."
On home shores, industry data out earlier revealed that shopping habits started to show tentative signs of recovery in June as lockdown measures were eased.
The BRC-ShopperTrak for UK footfall in June was down 62.6% year-on-year, a 19 percentage point improvement on May. In the first two weeks of the month, footfall declined on average 77.1%, but that improved to a 53.3% fall in the remaining three weeks.
Non-essential shops began reopening from 12 June in Northern Ireland and from 15 June in England. They starting reopening in Scotland in the last week of the month only.
Retail parks fared better than high streets, with a decline of 33.8% in June; high streets reported a 64.5% slide.
Shopping centres - where social distancing was more challenging - reported a 68.3% decline.
Helen Dickinson, chief executive of the British Retail Consortium, said: "With lockdown easing, consumers are slowing re-emerging onto their high streets, shopping centres and retail parks. Footfall levels are still well below pre-coronavirus levels; however, the decline was softer that it was in May.
"UK recovery has been sluggish, especially compared with European standards, but retailers with stores remain hopeful that the reopening of hospitality will provide a welcome boost."
In equity markets, insurer Hastings was under the cosh after Goldman Sachs placed 22 million shares in the company.
On the upside, Petropavlovsk advanced after one of its investors called for a shareholder meeting to remove Peter Hambro and four other directors who were installed in a boardroom coup. The Russian gold miner said it would hold a meeting at the request of Everest Alliance, which holds about 5% of the company's shares.
Everest wants Hambro, Alya Samokhvalova, Johnny Martin Smith, Martin Smith and Angelica Phillips to leave the board after they were elected on 30 June. Everest has proposed two new directors and wants four current directors to be kept on before the meeting.
London commercial landlord Great Portland Estates was in focus after saying it had collected 69% of June rent to date including amounts covered by rent deposits as tenants felt the pressure of the coronavirus lockdown. This figure slumped to 58% when deposits were excluded with 74% collected from office tenants. Only 28% came in from retail, hospitality and leisure sectors clients, hit hardest by the shuttering.
FTSE 100 (UKX) 6,018.85 -0.51%
FTSE 250 (MCX) 16,956.57 -0.17%
techMARK (TASX) 3,642.80 -0.25%
FTSE 100 - Risers
Homeserve (HSV) 1,269.00p 1.44%
Scottish Mortgage Inv Trust (SMT) 912.00p 1.33%
Avast (AVST) 559.50p 0.99%
Land Securities Group (LAND) 549.60p 0.84%
Sainsbury (J) (SBRY) 188.80p 0.75%
Bunzl (BNZL) 2,145.00p 0.66%
WPP (WPP) 579.20p 0.63%
Persimmon (PSN) 2,605.00p 0.62%
Morrison (Wm) Supermarkets (MRW) 179.55p 0.53%
British Land Company (BLND) 377.20p 0.51%
FTSE 100 - Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 202.40p -2.46%
Royal Dutch Shell 'B' (RDSB) 1,162.40p -1.59%
Mondi (MNDI) 1,415.00p -1.53%
Burberry Group (BRBY) 1,552.50p -1.49%
RSA Insurance Group (RSA) 406.90p -1.41%
Melrose Industries (MRO) 112.10p -1.36%
Polymetal International (POLY) 1,580.50p -1.34%
Royal Dutch Shell 'A' (RDSA) 1,215.20p -1.30%
Prudential (PRU) 1,216.50p -1.30%
M&G (MNG) 169.25p -1.25%
FTSE 250 - Risers
PureTech Health (PRTC) 289.00p 4.90%
AO World (AO.) 161.20p 4.68%
Spirent Communications (SPT) 257.50p 4.67%
Oxford Instruments (OXIG) 1,394.00p 3.87%
ICG Enterprise Trust (ICGT) 766.00p 3.51%
Petropavlovsk (POG) 26.90p 3.26%
Unite Group (UTG) 934.00p 3.20%
Contour Global (GLO) 198.00p 3.13%
CLS Holdings (CLI) 191.40p 2.90%
Allianz Technology Trust (ATT) 2,410.00p 1.90%
FTSE 250 - Fallers
Impax Environmental Markets (IEM) 316.00p -4.53%
Carnival (CCL) 902.40p -4.41%
Hastings Group Holdings (HSTG) 181.20p -4.18%
Vistry Group (VTY) 692.50p -3.01%
TUI AG Reg Shs (DI) (TUI) 350.00p -2.89%
Watches of Switzerland Group (WOSG) 278.00p -2.63%
Capita (CPI) 38.00p -2.46%
National Express Group (NEX) 162.60p -2.28%
TBC Bank Group (TBCG) 876.00p -2.23%
Weir Group (WEIR) 1,007.00p -2.14%
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
(Sharecast News) - Stocks in London finished in the green on Monday, helped by the release of a much better than expected reading on euro area factory activity last month, and similarly upbeat survey results overnight in China.
Seeing Machines said total income, revenue and cash are ahead of market expectations for the period ended 30 June 2020. The driver monitoring system technology company said it continues to deliver its products across several industries despite the effects of the COVID-19 pandemic.
Union Jack Oil has a further 12.5% interest in PEDL180 and PEDL182 from Humber Oil & Gas, which the group says will have ‘an immediate positive by increasing its reserves and resources at Wressle by 45.5% to 1.24 million barrels of oil equivalent.
Versarien has today announced the launch of its first Graphene Enhanced Protective Face Mask, which utilises Polygrene, Versarien's graphene enhanced polymer to protect against airborne bacteria and minimise the spread of viral infection.
(Sharecast News) - Stocks in London are on the back foot at the start of August, weighed down by a retreat in lenders' shares and reports pointing to increasing odds that stricter Covid-19 restrictions were in the pipeline, both in the UK and the US.
New "life-saving" 90-minute tests which can detect coronavirus and flu will be rolled out in care homes and laboratories from next week. The "on-the-spot" swab and DNA tests will help distinguish between Covid-19 and other seasonal illnesses, the government said.