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Market Report: FTSE 100 rockets higher after economic bounce-back optimism in Asia

Headlines from the Proactive UK newsroom.

The FTSE 100 rocketed higher after economic bounce-back optimism lifted markets in Asia overnight. The blue chip index jumped 131 points to 6,288.

Lloyds Banking Group PLC’s (LON:LLOY) chief executive António Horta-Osório is to leave next year while Robin Budenberg has been appointed as its new chairman. The FTSE 100-listed bank said Horta-Osório is looking to step down after completing 10 years in the role.

Cineworld is being sued by US peer Cineplex after the cinema owner scrapped their US$2.1bn merger in June. The proceedings allege that Cineworld breached its obligations under the arrangement agreement.

Boohoo shares tumbled 9% as investors slammed its response to accusations of modern slavery at one of its supplier factories in Leicester. An undercover Sunday Times reporter found the supplier was paying less than half the minimum wage.

RockRose Energy PLC (LON:RRE) has recommended a cash takeover offer valuing the UK oil and gas company at £247.5mln or a 64% premium to Friday’s closing price.

Supermarket Income REIT PLC (LON:SUPR) has entered into a £74.1mln sale and leaseback transaction with supermarket group, Waitrose & Partners, part of the John Lewis Partnership. The acquired portfolio comprises six freehold supermarkets with an average gross internal area of 32,000 square feet.

Zoetic International PLC (LON:ZOE) has announced its first international distribution contract, with a deal in the Czech Republic and Slovakia for its Chill brand tobacco alternative CBD products. The company noted that Chill branded products now have a ‘clear roadmap’ for distribution and sale across filling stations and tobacco retailers in the two countries.

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