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Morning Report: FTSE 100 to open deep in red as US deaths rise and fears grow of global recession

The FTSE 100's expected to open deep in the red again as US and Asian markets fell overnight. The rising death toll in the US and fears of a global recession's unnerved investors.

All five of the UK’s top banks have suspended dividend payments after a request from the Bank of England to preserve cash during the coronavirus crisis. Lloyds, Barclays, HSBC, RBS and Standard Chartered had been expected to pay out more than £8bn in the next two months.

Auto Trader (LON:AUTO) has launched a placing to raise cash to tide it over the crisis. Worth £4bn last night, the digital car dealer will use a bookbuild to sell shares equivalent to 5% of its current amount in issue.

Seeing Machines (LON:SEE) has signed a pre-production license deal with a major Automotive Tier 1 group. The agreement is with one of the company's existing partners but is the first licensing deal for its driver monitoring technology in the transport sector.

Primary Health Properties (LON:PHP) says rent collection across its estates of GP practices and pharmacies has been robust in the past quarter. The FTSE250 property group says it intends to maintain dividend payments and a progressive payout policy.

And FX Group Argentex(LON:AGFX) also says trading has been strong through the current crisis. Turnover in the year to the end of March rose by 30% with 450 new SME customers.

Quick facts: Seeing Machines Ltd

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Price: 10 GBX

Market Cap: £387.56 m

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Seeing Machines highlights step change in value of its automotive pipeline

Seeing Machines Ltd (AIM:SEE, OTC:SEEMF, FRA:M2Z)'s Paul McGlone talks Proactive's Andrew Scott through its trading update for the year ended 30 June 2021. The company's expecting its automotive royalty revenues to increase significantly over the next two to three years as production of vehicles...

on 9/8/21

2 min read