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Morning Report: FTSE 100 rises as UK PM Boris Johnson returns to Downing Street

Headlines from the Proactive UK newsroom.

The FTSE 100 began the week firmly on the front foot rising 77 points to 5,829. The index was buoyed by Boris Johnson’s return to work and Japan’s bond bail-out announcement.

Airbus’s chief executive has warned the company is "bleeding cash at an unprecedented speed". Production is being scaled back by a third due to the slump in airline travel and deep job cuts are likely.

Insurers expect to pay £1.2bn in coronavirus claims to businesses, according to the industry trade body. However, nearly all of this will go to firms with infectious disease insurance with standard business interruption policies not covered.

Admiral (LON:ADM) has been forced into a U-turn on its dividend by the financial regulator. The FTSE 100 home and motor insurer has pulled its special dividend of 20.7p per share that was planned for June, though will still pay a final dividend.

Aminex (LON:AEX) and Solo Oil (LON:SOLO) have announced an extension of the Ruvuma licence by Tanzania’s Ministry of Energy by one additional year. The extension was one of the last remaining conditions required for Aminex to complete a farm-out transaction.

Directa Plus PLC (LON:DCTA) has secured an EU-wide patent for Grafysorber, its graphene-based technology to treat water and sludge contaminated with hydrocarbons. The AIM-listed firm said the patent covers produced waters, refinery waters, and any kind of wastewater.

Faron Pharmaceuticals (LON:FARN) is to donate interferon beta-1a drug supplies to treat 2,000 patients taking part in a globally crucial coronavirus study. The World Health Organisation's Solidarity trial is assessing four drug options, including the Faron candidate, known as Traumakine, in combination with a HIV drug.

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