The Market Report with Katie Pilbeam. FTSE100 dropped as worries over inflation overshadowed the return to indoor socialising and a host of venues reopening. London’s blue-chip index shed 23 to 7,020.
There was more Elon Musk-inspired chaos in the world of Bitcoin over the weekend. The crypto slumped to its lowest price in three months as Musk hinted electric car maker Tesla Inc (NASDAQ:TSLA) could be on the verge of selling some of its holding.
Better news for GlaxoSmithKline PLC (LON:GSK) which announced that the COVID-19 vaccine it is working on with French giant Sanofi did well in mid-stage trials. The vaccine also showed acceptable tolerability with no safety concerns.
Ryanair PLC (LON:RYA) said bookings have picked up recently and it expects air travel to start to recover from the second half of this year. “If, as is presently predicted, most European populations are vaccinated by Sept., then we believe that we can look forward to a strong recovery in air travel, jobs and tourism,” said the carrier.
Zoetic PLC (LON:ZOE) recorded an extra US$1mln of orders for its Chill CBD smokes and chews in the space of two weeks. The CBD group is trading profitably, it added.
EQTEC PLC (LON:EQT) and MetalNRG PLC (LON:MNRG) are teaming up to acquire and recommission a waste-to-energy plant in Italy. It will be operational by the second quarter next year.
Kodal Minerals PLC (LON:KOD) said it might have made a significant gold discovery at its project in Cote d'Ivoire. The area is a new gold zone in the African country.