The Market Report with Katie Pilbeam. FTSE 100 made an edgy start with attention drawn by the massive container ship stuck in the Suez Canal, which will have an impact on global trade if not moved. London’s blue-chip index shed 8 at 6,690.
Wickes confirmed it will list in London as part of its demerger from parent Travis Perkins. The DIY chain is enjoying a tailwind from the lockdown effect as people work on their homes with sales up by nearly 20% last year.
BT is to give frontline staff a £1,500 bonus for keeping people and businesses connected during the pandemic. The bonus will cost the telco £110mln.
Gamestop shares tanked in after-hours trading as the games retailer said it was looking at taking advantage of the recent trading frenzy in its shares to raise cash. The Reddit favourite made a profit in its fourth quarter as online sales soared but still missed analysts forecasts.
UK's inflation rate unexpectedly fell in February, down from 0.7% in January, as the cost of clothes and second-hand cars tumbled. Petrol and diesel prices rose.
Among the small caps, Bloomsbury Publishing PLC (LON:BMY) has upgraded its profits expectation for a second time after an unexpected surge in demand for books in February. People have turned to reading while stuck at home during lockdown.
Keywords Studios PLC (LON:KWS) posted a 34% jump in full-year profits thanks to the pandemic-driven boom in the video game market. The services provider also benefited from the launch of the PlayStation 5 and Xbox X|S Series consoles.
Remaining in the gaming sector, Guild Esports PLC (LON:GILD) has signed Jannis Matwin, also known as JannisZ, as the fifth member of its pro Fortnite esports team. JannisZ is currently ranked third in Europe and is the two-time winner of the Fortnite Champion Series.