logo-loader

Market Report: Friday flutters as UK traders begin to shake off Wall Street sell off

Published: 11:04 05 Mar 2021 GMT

The Market Report with Katie Pilbeam. FTSE 100 opened lower after the US markets hit the skids on Thursday as inflation concerns triggered a rise in government bond yields. London’s leading index dropped 47 points to 6,604 in early trading.

Frasers Group PLC (LON:FRAS) said the £2mln rates cap on businesses from July 2021 to March 2022 “makes it a near-worthless support package for large retailers”. Mike Ashley’s firm said the new measures “will make it nearly impossible to take on ex-Debenhams sites” and so create more jobs.

Sticking to the retail sector, MPs have written to boohoo Group PLC (LON:BOO) to link senior executive bonuses to ESG milestones. Chairman Mahmud Kamani is being pressured to update on measures to ensure minimum wages across the supply chain.

Germany has reversed its guidance not to administer the Oxford/AstraZeneca jab to the over-65s. The news came as Italy banned the export of 250,000 doses manufactured in the country to Australia.

Energy Plc (LON:SDX) has secured final approval from the Egyptian authorities to extend its Production Services Agreements for the Meseda and Rabul oil fields, both part of the West Gharib concession. The agreements will now remain valid until at least November 2031.

Touchstone Exploration Inc (LON:TXP, TSE:TXP) announced a jump crude oil and natural gas reserves at its Trinidad exploration properties. Total proved, probable and possible (3P) net reserves, the widest measure, surged 236%.

Kodal Minerals PLC (LON:KOD) is close to reaching an agreement with Riverfort Global Capital Ltd to receive up to US$2.5mln in funding. Following negotiations between Kodal and Riverfort, the terms of a previously announced funding proposal have been revised.

Kodal Mineral reports significant progress at Bougouni lithium project in Mali

Kodal Minerals PLC (AIM:KOD) CEO Bernard Aylward joins Proactive's Stephen Gunnion with details of the latest milestones at the Bougouni lithium project in southern Mali. Aylward highlighted that the project has seen significant progress following the completion of a transaction last...

1 day, 22 hours ago