Morning Report: FTSE 100 drops below 6,000 as non-essential shops reopen in England

Headlines from the Proactive UK newsroom.

The FTSE 100 dropped below 6,000 as a new coronavirus outbreak in China sparked second wave fears. London’s blue-chip index tumbled 136 to 5,967.

BP will take up to a US$17.5bn write-off after changing its long-terms assumptions about the price of oil and gas. The oil giant has assumed the coronavirus pandemic will speed up the move to low carbon economies.

Cineworld (LON:CINE) is facing legal action after pulling out of the US$2.1bn takeover acquisition of North American cinema group Cineplex. Cineworld cited breaches of the agreement, but Cineplex said it was just buyers remorse after coronavirus.

All eyes will be on the retail sector as non-essential shops reopen in England for the first time since March. Social distancing measures will be in place and Boris Johnson yesterday urged people to shop with confidence.

Bango PLC (LON:BGO) has launched a carrier billing option for mobile operator SoftBank Corp with Amazon's Japanese website. Amazon customers with a SoftBank mobile phone account will now be able to charge payments to their mobile phone bill.

Touchstone Exploration (LON:TXP) has completed the final phase of independent testing on the Cascadura well in Trinidad. Two intervals of testing both flowed above 5,000 barrels oil equivalent per day.

Open Orphan's (LON:ORPH) joint venture Imutex has had details of a phase 1 trial for its mosquito saliva treatment for diseases such as zika, malaria, dengue fever and West Nile virus carried in the Lancet. The study showed it was safe and induced a strong immune response in the healthy volunteers.

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