viewCineworld Group PLC

Market report: FTSE optimistic on a Trump recovery and US stimulus hopes

FTSE 100 opened higher after optimism on Donald Trump’s recovery from coronavirus while Washington may be close to announcing the long-awaited US$2.2 trillion fiscal stimulus. London’s blue-chip index added 35 points to 5,937 in early trading.

The UK reported nearly 23,000 new cases on Sunday after over 15,000 were missed last week due to a technical glitch. The people who tested positive were informed but Public Health England did not trace the ones in close contact with them.

Cineworld (LON:CINE) is to shut all its UK and US cinemas after the release of the new James Bond film was pushed back to April from its planned November launch. The decision will affect 45,000 of the cinema operator’s staff.

Conversely, renewables firm Octopus Energy (LON:OOA) plans to create 1,000 new technology jobs in five UK cities. The firm wants to make the UK the “Silicon Valley of energy”.

Among the small caps, BATM Advanced Communications (LON:BVC) landed a €4mln order for its coronavirus real-time diagnostic kits. The customer is an Italian group that provides tests across Europe for businesses such as airports.

Waste-to-energy firm EQTEC (LON:EQT) said its technology will be independently reviewed by engineering and consultancy giant Wood Group. It will mostly focus on the power plant in Spain, and its application to a wide range of mixed waste fuels.

Caledonia Mining (LON:CMCL) boosted its full-year production guidance to between 55,000 and 58,000 ounces of gold. Production at the Blanket mine in Zimbabwe jumped 11% in the third quarter.

Quick facts: Cineworld Group PLC

Price: 106.15 GBX

Market: AIM
Market Cap: £1.46 billion

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