Morning Report: FTSE 100 reels from Trump travel ban

Headlines from the Proactive UK newsroom.

The FTSE 100 slumped again as traders reacted cautiously to the travel ban between the US and Europe imposed by Donald Trump last night. The blue-chip index opened down 5% at 5581 after Dow Jones shed almost 1,500 points overnight. 

Insurance group LV Group has stopped selling travel insurance due to the impact of coronavirus. The number of policies it sold had doubled over the past fortnight.

WH Smith (LON:SMWH), meanwhile, says its airports and railway outlets have been badly affected by the slump in people travelling.  UK Travel revenues are down by 15% with airport revenues 35% lower in March and April.  International and US revenue is 20% down.

Westminster Group (LON:WSG) has been confirmed as the technical partner on the container screening project at Ghana's Tema port. The screening project has been in operation since July 2019

ECSC (LON:ECSC) has secured two major managed service contracts with a national charity and high street retailer with a combined revenue value of over £590,000.  The cybersecurity firm said the wins represent more than 20% of its current managed services order book.

Berkeley Group (LON:BKY) has dropped a planned increase in shareholder payments due to concerns over the virus. The housebuilder had intended to increase its pay-out by £455mln but now says this will be abandoned and it will revert to its original plans.

Intu (LON:INTU) posted a loss of £2bn after a massive write-down on the value of its shopping centre portfolio. Property values have dropped by a third since the end of 2017.

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