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Morning report: FTSE flies as HSBC jumps and Trump tax evasion accusation takes the spotlight

FTSE 100 made a decent start to the week buoyed by M&A activity and good rises by markets in Asia. The blue chip index was up 90 at 5,933.

Donald Trump paid just US$750 in tax in 2016 and 2017 and none at all for a decade, according to The New York Times. Trump, who said the report was ‘fake news’, asked rival Joe Biden to take a drugs test before tomorrow’s first presidential election debate.

Caesars Entertainment (NASDAQ:CZR) a casino giant that offered £2.9bn to buy William Hill, said it is now in advanced discussions with the UK bookmaker over a takeover. On Friday, Hill said it had received separate cash proposals from both Caesars and Apollo Management.

HSBC (LON"HSBA) shares jumped by 10% as biggest shareholder Ping An increased its stake. Stock in the bank has slumped to a 25-year low amid concerns it might be caught in the crossfire between the US and China.

Innovaderma (LON:IDP) has appointed an exclusive distributor for North and South America. The beauty products group will now have its topical brands distributed by PCA in all major markets, both in shops and online.

Ceres Power (LON:CWR) delivered 21% revenue growth in the year to June despite the coronavirus (COVID-19) pandemic delaying some sales. The fuel cell specialist added business had also been strong in the current year so far.

Symphony Environmental‘s (LON:SYM) biodegradable plastic technology has been incorporated into a new 100ml security bag to be trialled at airports in Aberdeen, Glasgow and Southampton.

Quick facts: Ceres Power Holdings PLC

Price: 749 GBX

LSE:CWR
Market: LSE
Market Cap: £1.28 billion
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Ceres Power Holdings announce 'significant milestone' deal with South Korean...

Ceres Power Holdings' (LON:CWR) Phil Caldwell talks to Proactive London about the 'significant milestone' of an agreed expanded collaboration with South Korean group Doosan. The deal involves the licence to manufacture the UK company's proprietary solid oxide fuel cell stacks - with 'the...

2 days, 1 hour ago

2 min read