Market report: Flat Friday as raft of sobering news dampens spirits

The FTSE is pretty flat this Friday thanks to a week of sobering realities including a surge in COVID-19 cases and the latest borrowing figures with the UK government’s borrowing now at it’s highest amount for August since records began in 1993.

Now at a total of £35.9bn in August. Tesco has introduced a three-per-customer limit on a number of products with new stockpiling restrictions now on flour, dried pasta, toilet roll, baby wipes and anti-bacterial wipes.

Shaftesbury PLC (LON:SHB) said it's West End London property estate has seen more activity since June, but the group is concerned about the new wave of restrictions imposed this week.

One of the leading water companies in the UK, Pennon Group is on track to deliver resilient financial results in line with expectations - with Covid-19 still expected to reduce net revenue by £10m this year. Bahamas Petroleum is preparing for a December spud date for Perseverance well.

And finally genedrive PLC (LON:GDR) said its coronavirus testing kit has been verified to work with the RNA extraction technology of its collaboration partner. There’s an in depth article on our website on genedrive and many more, https://www.proactiveinvestors.co.uk/

Quick facts: Shaftesbury

Price: 545.8188 GBX

Market: LSE
Market Cap: £2.1 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


SP Angel hail the restructuring of Mosman Oil and Gas and their 2020...

Mosman Oil and Gas Ltd's (LON:MSMN) is given a 'buy' recommendation by SP Angel analyst Sam Wahab who takes Proactive through his research on the company.  2020 was a year of operational development against a challenging market backdrop, the company successfully transitioned into a low...

3 minutes ago

2 min read