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Market Report: FTSE dives as coronavirus uncertainty dominates sentiment

FTSE 100 made a poor start with sentiment dominated by coronavirus (COVID-19) uncertainty. London’s blue chip index dived 113 points to 5,821 in early trading. Marston's PLC (LON:MARS) is cutting up to 2,150 roles currently in furlough. The publican blamed the new restrictions imposed by the government.

Ryanair PLC (LON:RYA) has cut winter capacity again and now expects to fly 40% of last year’s schedule. Renewed COVID restrictions have hit forward bookings for November and December, said the airline.

Better news from Domino’s Pizza PLC (LON:DOM), which posted a 19% jump in sales during the summer helped by the VAT cut, staycations and the return of live sport on TV. The collection business is down 40% on last year and not expected to recover anytime soon. 

Synairgen PLC (LON:SNG) has concluded an £80mln share placing, providing the financial backing to take its lead drug through final-stage clinical trials in patients with severe coronavirus. The cash will also be invested in scale-up activities with the aim of producing 100,000 treatment courses per month next year.

Ariana Resources PLC (LON:AAU) unveiled a meaty maiden resource for the Magellan project in Cyprus. Magellan is estimated to host some 8.5mln tonnes of mineralisation with a copper grade of 0.63% and additional potential for gold, silver and zinc.

discoverIE Group PLC (LON:DSCV) is to resume dividends as the outlook for the designer and supplier of customised electronics is improving. The components group exited the first half of its financial year with orders up 6% on a like-for-like basis.

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