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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: 454.8 GBX

LSE:SHB
Market: LSE
Market Cap: £1.4 billion
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