The FTSE 100 opened lower even though the UK economy rose by 4.8% in the second quarter as businesses reopened after months of lockdown. London’s leading index slid 15 points to 7,205 in early trading.
Cineworld Group PLC (LSE:CINE) (LON:CINE) expects strong trading in the coming months as people want entertainment out of their homes. The cinema operator has reopened most of its estate in the US and the UK.
TUI AG (LSE:TUI) (LON:TUI) has seen signs of pent-up demand when restrictions were eased but total summer bookings are still well below 2019 levels. It’s focusing on destinations that are doing well in terms of vaccine rollout and hospitalisation rates, such as the Balearics, Canaries and Greek islands.
Boohoo Group PLC (AIM:BOO) (LON:BOO) is planning to spent £500mln over the next five years to expand warehouse space and improve its technology. The fast fashion retailer plans to hire 5,000 new staff to handle growing demand for its brands.
Among the small caps, Deltic Energy PLC (AIM:DELT) (AIM:DELT) has struck a farm-out deal with Cairn Energy PLC (LSE:CNE) for five licences in the Southern North Sea. Cairn will cover all the agreed work programme for all the areas.
Sativa Wellness Group Inc (AQSE:SWEL, CSE:SWEL, OTC:SCNNF, FRA:484). (AQSE:SWEL, CSE:SWEL, OTC:SCNNF, FRA:484) has turned its first quarterly profit. Trading has been boosted by COVID-19 testing clinics and diversification in the wellness sector.
ImmuPharma PLC (AIM:IMM)'s (AIM:IMM) partner has received US approval to carry out a study on lupus treatment Lupuzor. The evaluation will take eight-to-12 weeks to complete.