Morning Report: FTSE 100 surges on Trump infrastructure binge reports

Headlines from the Proactive UK newsroom.

The FTSE 100 roared higher on reports President Trump is planning a US$1trn infrastructure spending binge to get the US out of its slump. London’s blue-chip index climbed 151 points to 6,216 in sympathy. US-focused plant hire group Ashtead was a big beneficiary. Its shares jumped 12% as the FTSE 100 group also maintained its dividend in spite of profits halving in its fourth quarter.

Cineworld Group (LON:CINE) expects all of its cinemas to have reopened by the end of July with venues in the UK and US starting to show films again from the 10th of the month. This will coincide with the release of several blockbuster films.

Bakery chain Greggs, meanwhile, is to reopen 800 shops to takeaway customers on Thursday, moving onto opening its whole estate by early July. The high street baker anticipates sales may be lower than normal for some time due to social distancing rules and the small size of its stores.

Clipper Logistics Plc (LON:CLG) told investors it is in advanced talks with Arcadia Group over a transportation contract for their store delivery network. If finalised and secured, the contract envisages Clipper making nearly 3,000 deliveries per week starting in August 2020.

Faron Pharmaceutical’s Traumakine, for Acute Respiratory Distress Syndrome (ARDS), is to enter a third trial to investigate whether it can treat coronavirus. The HIBISCUS trial will focus on intensive care patients with ARDS caused by viral infections such as coronavirus and influenza.

ClearStar Inc (LON:CLSU) said its revenue run rate experienced a “significant uptick” from the end of May as the labour market and employers began to slowly recover from the effects of the coronavirus (COVID-19) pandemic.

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