(Sharecast News) - London stocks were set for a muted start on Friday following heavy losses in the previous session as investors continue to fret about the coronavirus pandemic.
The FTSE 100 was called to nudge up six points to 6,055.
CMC Markets analyst David Madden said: "There is a growing feeling that things are going backwards in terms of the health emergency. Yesterday, it was reported that Tokyo posted a record number of new cases, while Hong Kong will retighten restrictions on account of the number of fresh cases.
"In the US, Alabama saw a record number of cases, while Florida posted a record number of hospitalisations and fatalities. Earlier in the week, the WHO said it wouldn't be surprised if the death rate increases as the infection rate has risen recently, but the fatality rate is still lagging behind.
"Traders will be paying close attention to the number of deaths, as that could be the tipping point for politicians to reverse the reopening of their economies."
In corporate news, a Petropavlovsk investor has called for a shareholder meeting to remove Peter Hambro and four other directors who were installed in a boardroom coup.
The Russian goldminer 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 said 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.
Chief executive Toby Courtauld said: "Whilst the lockdown has started to ease and our office pre-letting momentum remains healthy, Covid-19 is disrupting the activities of many of our existing occupiers, which in some instances is impacting their ability to meet their rental payments."
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.