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Morning Report: European airlines hammered over coronavirus outbreak

Headlines from the Proactive UK newsroom.

Coronavirus is causing chaos among European airlines this morning. Wizzair (LON:WIZZ), easyJet (LON:EZJ) and Jet2 owner Dart Group (LON:DTG) are all down by up to 8-10% following the major outbreak in Italy at the weekend.

ReNeuron (LON:RENE) has seen continued improvement in patients taking its stem cell therapy for progressive eye loss disease RP. Long-term efficacy data showed a meaningful clinical effect from the therapy at all time points out to twelve months post-treatment.

BATM Advanced Communications (LON:BVC) has won a US$4m cybersecurity contract extension from a long-standing government defence department customer. This additional follow-on order is expected to be delivered in the second half of the year and takes the orders from this one customer to US$18mln.

Innovaderma (LON:IDP) is to launch a new range of hair removal products called  ‘Nuthing’ from March this year.  The new line will be exclusively stocked in all 800 Superdrug stores as well as being sold online.

Associated British Foods says profits at its Primark clothing chain will be squeezed in the first half of its current year while the coronavirus outbreak in China has slowed production in its other divisions. Operating profit for Primark is now expected to be “marginally down” on the prior year.

Mirror and Express owner Reach (LON:RCH) is gearing up for a major shift online and has targeted 7mln registered customers by the end of 2022 against less than 1mln currently. The media group saw underlying profits rise by 6% in 2019 even though revenues dipped.

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