Morning Report: FTSE 100 rises for second day on optimism spread of virus in Europe is slowing

The FTSE 100 is expected to rise for a second day on growing optimism that the spread of coronavirus in Europe in slowing. Wall Street jumped 7.7% overnight while Asian markets were also higher.

WH Smith has raised £166mln from a placing. The price was at a 4% discount to the last close.

Premier Oil (LON:PMO) is to withdraw from its joint venture with 88 Energy on the North Slope in Alaska. The Charlie-1 Well hit gas condensate rather than light oil which is more difficult to commercialise said Premier.

ReNeuron (LON:RENE) has signed a research agreement with an unnamed pharma major to explore the use of its proprietary exosomes to find new drug treatments. ReNeuron's exosomes can cross the blood brain barrier and be manufactured at scale.

More news from Bidstack (LON:BIDS) - they've provided its technology to insert the message "Stay Home Save Lives" in Codemasters' Dirt Rally 2.0. video game during the coronavirus crisis. Bidstack is also working with the government to put the message into other games..

Falcon Oil (LON:FOG) has swapped a 7.5% stake in the Beetaloo project in Australia for a further carry on development costs worth A$150mln. Falcon will now have a 22.5% interest and be carried on costs up to A$264mln.

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