Morning Report: FTSE 100 under pressure as Centrica says it's to cut 5,000 jobs

Headlines from the Proactive UK newsroom.

FTSE 100 was under pressure as US Fed chair Jerome Powell last night said it will be a hard road back from the coronavirus crisis. The blue-chip index tumbled 155 to 6,173.

Centrica is to cut 5,000 jobs as part of plans for what it calls a simpler, more customer-focused business model. Half of the departures will come from management.

Just Eat Takeaway has made a major move into the US through a US$7.3bn merger with Grubhub. If it can get competition authority approval it will create the world's biggest food delivery company outside China with 600 million orders a year.

Unilever PLC (LON:ULVR) has resurrected plans to merge its UK and Dutch divisions, though this time it will be Dutch shareholders who receive shares in the UK business. Two years ago UK shareholders vetoed plans for a switch to Holland.

Ocado Group PLC (LON:OCDO) has raised £1bn of new cash to fund its roll-out plans. An equity placing of £657mln was announced and completed overnight and topped up with a £350mln convertible loan.

Greatland Gold (LON:GGP) has described the latest drilling results from its Havieron gold prospect in Western Australia as ‘truly spectacular’. One infill hole hit 109 metres (m) of gold at an average grade of 6.3 grammes per tonne (g/t), which Greatland described as among the best from the project to date.

Another gold miner, Ariana Resources (LON:AAU), reported a 50% increase in the joint ore reserves at the Tavsan project in Turkey, part of its Red Rabbit joint venture. The AIM-listed firm said the resource has increased to 253,000 ounces of gold and 723,000 ounces of silver.

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