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Morning Report: FTSE 100 makes positive start to trading despite further drop in oil prices

Headlines from the Proactive UK newsroom.

Oil prices have dropped further after Saudi Arabia and Russia postponed a meeting to discuss production cuts. The two countries started an oil price war last month.

Rolls-Royce has built a cash pile of £6.7bn in anticipation of a further deterioration in civil flights. Mileage flown fell by 50% in March and a further drop is expected in April.

WH Smith (LON:SMWH) has confirmed it is planning an equity issue and new loans of £120mln to shore up its balance sheet. A maximum of 13.7% of its share capital will be issued by way of a placing. 

Crossword Cybersecurity (LON:CCS) is to partner with security reseller and managed security services provider Satisnet. They'll be using Crossword's Rizikon platform to asses third party risks to its business.

CentralNic (LON:CNIC) says trading has continued to be strong with no interruptions in its services to customers or in its supply chain. The internet domain name specialist says results are in line with market expectations.

Ergomed (LON:ERGO) is to work on a second clinical trial in Italy looking at a treatment to tackle people severely ill with coronavirus. The trial will use a drug currently in late-stage trials for rheumatoid arthritis.

Quick facts: WH Smith PLC

Price: 1108 GBX

LSE:SMWH
Market: LSE
Market Cap: £1.45 billion
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