logo-loader

Morning Report: FTSE 100 climbs despite 'deep recession' warning from Bank of England

Headlines from the Proactive UK newsroom.

The FTSE 100 climbed even though the Bank of England has warned that Britain is heading for a deep recession. It says the UK economy will shrink 14% this year based on the lockdown being relaxed in June.

BT Group PLC (LON.BT.A) has finally buckled and cancelled its dividend as a part of a five-year ‘simplification’ plan. Shareholders won’t get a payout until March 2022 at the earliest.

To add to BT’s woes, mobile operator O2 and broadband giant Virgin Media have agreed terms for a 50-50 merger to create a massive new competitor, according to the FT. O2 is the UK's largest phone company and Virgin a large fixed line operator.

British Airways owner IAG wants a "meaningful return" of flights in July at the earliest if lockdown measures are relaxed. The airline also warned however that additional restructuring measures are essential following 12,000 job cuts at BA.

Elsewhere, ReNeuron Group's CTX therapy has shown early promise in treating Huntington's disease. New positive data relating to its CTX cell therapy candidate has been published in the peer-reviewed scientific journal Stem Cells.

Amryt Pharma PLC (LON:AMYT) has taken another important step towards the global launch of its phase III treatment for rare skin condition EB by announcing its brand name. AP101 will be launched commercially as FILSUVEZ.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Amryt Pharma PLC named herein, including the promotion by the Company of Amryt Pharma PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Tabula launches new ETF focussing on North American High Yield Credit Market

Tabula Investment Management Limited (LSE: TABS) CEO MJ Lytle joined Steve Darling from Proactive with news the company has started a new ETF that will be exclusively located on the London Stock Exchange under the ticker “TABS”  Lytle telling Proactive that ETF will focus on short exposure...

7 hours, 54 minutes ago

2 min read