Morning Report: FTSE 100 opens down as Unilever's first quarter disappoints

Headlines from the Proactive UK newsroom.

The FTSE 100 opened down 11 points at 5,760, largely as a result of Unilever’s (LON:ULVR) poorly received first quarter statement. Housebuilders were strong on hopes it might be building as usual soon.

Taylor Wimpeyis to start a staged re-opening of its construction and sales sites from early next month using new social distancing protocols. Sales in the 16 weeks to 19 April dropped by 14% to 2,271 houses though its order book rose.

Vistry has also said it's to restart work on 90% of its partnership sites and on a “significant number” of housing sites on April 27.

Shares in Tullow Oil (LON:TLW) surged higher as it agreed a cash deal to sell its entire Uganda business to Total for US$575mln or close to 150% of the London-listed firm’s market value yesterday.

Ariana Resources (LON:AAU) was another riser as the gold miner reported a “significant” increase in the mineral resource estimate for its Kiziltepe mine in Turkey. The AIM-listed producer said the updated estimate increased the resource at the site by 25% to around 321,000 ounces of gold and 5mln ounces of silver.

Open Orphan’s (LON:ORPH) hVIVO subsidiary has commenced the testing of an anti-viral drug for treating coronavirus (COVID-19) on behalf of its client Nearmedic International. Nearmedic is a specialist pharmaceutical, biotechnological and medical business headquartered in Moscow.

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