FTSE 100 opened higher on confirmation the UK’s Covid-19 reopening plan is on track and after more records were smashed on Wall Street overnight. The blue-chip index rose 79 to 6,816.
Travel companies were among the best of the risers even though airlines expressed disappointment over the traffic light re-opening scheme unveiled by Boris Johnson. EasyJet said the testing requirements are too expensive at up to £200 a time.
BP PLC (LON:BP.) said it will hit its US$35bn (£25bn) net debt target for the first quarter after a boost from the recovery in oil prices. Chief executive Bernard Looney said receipts from asset sales and a “very strong” trading performance recently had boosted its cash inflows.
Credit Suisse has sacked two key executives and slashed bonuses due to losses caused by the crises at Greensill Capital and hedge fund Archegos. The Swiss bank’ s chief risk officer and investment banking chief are both leaving.
88 Energy Ltd (LON:88E) shares tumbled 75% as it did not produce any conclusion from drilling the Merlin-1 well in Alaska. Multiple prospective zones were identified but samples were unobtainable because of technical issues said the explorer, which added it might have to drill again.
United Oil and Gas PLC (LON:UOG) has found more oil from the latest is a run of very successful exploration wells in Egypt. Meanwhile the Selva natural gas field in Italy, where the firm holds a 20% stake, has received environmental approval.
Oncimmune Holdings PLC (LON:ONC) has landed two substantial new contracts for an infectious disease panel with drug giant Roche and the world-famous Cedars-Sinai Medical Center. The panel helps predict the severity of COVID-19 and the efficacy of drugs and vaccines used against it.