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Morning Report: FTSE 100 lower as US infections continue to rise

Headlines from the Proactive UK newsroom.

The FTSE 100 headed lower in an uncertain start to the week as investors worried over the surge in US COVID-19 infections. The blue-chip index dipped 24 to 6,135.

Deliveroo’s boss has warned that restaurants are 'hurting' due to the coronavirus pandemic. Will Shu told the BBC that even with restrictions being lifted, restaurants will have to endure a long period of socially-distanced dining.

Car dealership Lookers (LON:LOOK) is to take a £19mln charge for irregularities in its accounts. Debtor balances were overstated and previous polices applied incorrectly an auditor’s review has found.

Chesapeake Energy, one of the pioneers of the US shale gas industry, has filed for US bankruptcy protection. Debts of US$9bn were unmanageable in the current environment said the oil and gas group.

One Media IP Group PLC (LON:OMIP) reported a 93% increase in underlying profits in the half-year to the end of April and said its operations have remained “unimpacted” by the coronavirus pandemic. The company said it continues to trade in line with expectations.

Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLSA) has said it is “aggressively advancing” a potential treatment for COVID-19 alongside a breakthrough method of delivering the inhaled version of this and other similar drugs. As part of the fast-track process the company has signed an agreement with manufacturer STC Biologics.

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