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Morning Report: FTSE 100 rises on Europe’s coronavirus bailout and US reopening plans

Headlines from the Proactive UK newsroom.

The FTSE 100 rose again as investors welcomed Europe’s coronavirus bailout and the US gave more details on its reopening plans for non-essential businesses. The blue-chip index added 42 points to 6,187.

Roche and Gilead are combining their two coronavirus candidates to see if that is more effective in fighting COVID-19. A phase III trial using Gilead’s Remdesivir and Roche’s Actemra will test 450 patients with severe pneumonia caused by the virus.

EasyJet PLC (LON:EZJ) is to cut around 30% of its staff and slash its fleet size as it predicted flights won’t recover fully from the coronavirus (COVID-19) disruption until 2023. The Luton-based airline, which has around 15,000 staff, said an employee consultation process about the job losses would start shortly.

Boohoo Group PLC(LON:BOO) has acquired the remaining 34% stake in subsidiary Pretty Little Thing (PLT) for a combination of cash and shares that could potentially rise to £323.8mln. AIM’s biggest company said it expects the acquisition to be significantly earnings enhancing.

Oncimmune Holdings PLC (LON:ONC) has signed its largest contract to date. Swiss pharma giant Roche will make a substantial upfront payment for the AIM-listed group to profile auto-antibodies in patient samples collected during cancer immunotherapy trials.

Synairgen PLC (LON:SNG) has completed recruitment of hospitalised patients with coronavirus for the clinical trial of its SNG001 treatment . The patients were recruited across a number of NHS trusts.

Galantas Gold Corp(LON:GAL) has restarted mining at its wholly-owned gold mine near Omagh, Northern Ireland. Staff previously furloughed under the UK government grant scheme during the coronavirus crisis are now back at work, it added.

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