The Market Report with Katie Pilbeam.
FTSE 100 moved higher as Wall Street hit new record highs overnight though it was Bitcoin grabbing most attention. London’s blue chip index added 12 to 6,535.
Bitcoin’s value is now nearly US$50,000 after Tesla guru Elon Musk bought US$1.5bn worth yesterday. The car maker said it will also accept the cryptocurrency as a method of payment in future.
TUI has taken 2.8mln bookings from customers for the summer, though that still represents a 44% drop on last year, the holiday group said. Capacity for the summer is 80% normal, it added.
Ocado’s sales rocketed 35% over the past year as people ordered more online. Losses were down but still £44mln as the delivery group said grocery shopping had been changed for ever by lockdown.
Among the small caps, MGC Pharmaceuticals (LON:MXC) was valued at £33.7mln after completing a £6.5mln IPO. It’s the first cannabis-sector company to debut on London’s main market.
Emmerson PLC (LON:EML) has received a mining licence for its Khemisset potash project in Morocco. Construction of the mine is scheduled for the end of 2021.
Tavistock Investments PLC (LON:TAVI) expects to report underlying earnings significantly ahead of last year. The financial advisor kept its growth strategy intact amid the pandemic.