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Market Report: Brexit woes and UK supermarkets' pay back government support

FTSE 100 struggled early on Brexit worries even though supermarkets paid back more cash to chancellor Rishi Sunak. London’s leading index added 10 points to 6,473 in early trading.

Morrisons (LON:MRW) and Sainsbury’s (LON:SBRY) have followed trend-setter Tesco PLC (LON:TSCO) in vowing to repay the business rates relief granted because of coronavirus. Morrisons will repay £274mln and Sainsbury’s hand back £450mln.

Go-Ahead Group PLC (LON:GOG) said the performance of London and international buses is improving but rail and regional buses are struggling. Around 90% of revenues are secured by fixed contracts and government support.

AJ Bell PLC (LON:AJB) hiked its dividend by 28% after profits beat the market consensus. The pensions and investment platform saw a strong rise in customer numbers and assets under administration.

Touchstone Exploration‘s (LON:TXP) (CVE:TXP) Ortoire exploration block in Trinidad continues to exceed drilling expectations. The latest well has been paused because high-pressure gas zones were encountered while drilling.

Braveheart is to pay a special dividend worth more than the share price yesterday. The payout follows its sale of a stake in Remote Monitored Systems and is worth 42.75p per share or £15.5mln in total.

Kromek Group PLC (LON:KMK) has launched the world’s smallest nuclear detector. The ruggedised device, with ultra-low false alarm rate, is designed for military, homeland security and industrial use, the AIM-listed firm said.

 

Quick facts: Wm Morrison Supermarkets PLC

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LSE:MRW

Price: 292.6 GBX

Market Cap: £7.08 billion

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