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Morning Report: FTSE 100 unsettled by Whitbread rights issue and spike in coronavirus cases

Headlines from the Proactive UK newsroom.

The FTSE 100 slipped early unsettled by Whitbread’s rights issue and a spike in coronavirus cases overseas. The index was down 35 at 6,031 early doors.

Whitbread is to raise £1bn through a rights issue at 1,500p, a thumping 47% discount to last night’s close. The Premier Inn owner expects a cash outflow of £600mln while the lockdown persists.

AstraZenecahas received a grant of US$1bn from the US government to help develop a coronavirus vaccine. Capacity has been sourced for 400 million doses rising to one billion this year and next.

EasyJet (LON:EZJ) is to resume some flights on 15 June on routes where it can make a profit. The initial flights will be domestic in the UK and France with crew and passengers having to wear facemasks.

Oncimmune (LON:ONC) has signed a foothill contract to utilise its EarlyCDT lung cancer detection panel with one of the world's largest pharmaceutical companies. The initial phase of the collaboration will assess the utility of the Early CDT Lung test in identifying the disease through screening.

ClearStar (LON:CLSU) has launched a testing service to support employers with their COVID-19 return-to-work planning. The new service includes both an antibody and a diagnostic test.

Stobart Group (LON:STOB) has sold the Eddie Stobart and Stobart trademarks and designs to Eddie Stobart Logistics for a total consideration of £10mln. Stobart intends to change its corporate name before the end of February next year.

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