{"id":149360,"date":"2020-05-12T01:01:57","date_gmt":"2020-05-12T01:01:57","guid":{"rendered":"https:\/\/www.bnreport.com\/ftse-100-closes-just-above-water-as-sterling-weakness-and-second-wave-fears-weigh\/"},"modified":"2020-05-12T01:01:57","modified_gmt":"2020-05-12T01:01:57","slug":"ftse-100-closes-just-above-water-as-sterling-weakness-and-second-wave-fears-weigh","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/ftse-100-closes-just-above-water-as-sterling-weakness-and-second-wave-fears-weigh\/","title":{"rendered":"FTSE 100 closes just above water as sterling weakness and second wave fears weigh"},"content":{"rendered":"<ul>\n<li>FTSE 100 index closes up a shade<\/li>\n<li>US benchmarks mainly lower<\/li>\n<li>BoE economist warns spending levels could remain depressed for some time<\/li>\n<\/ul>\n<h3>5.05pm:  FTSE ahead- just<\/h3>\n<p>FTSE 100 index closed with its nose just above water on Monday as the weak pound and fears of a second wave of coronavirus uneased traders.<\/p>\n<p>The Footsie finished up around three points at 5,939.<\/p>\n<p>FTSE 250, though, was a little more convincing, adding around 23 points at 16,271.<\/p>\n<p>Against the US dollar, the pound shed around 0.64% to US$1.2325.<\/p>\n<p>&quot;The easing of lockdowns has turned out to be a double edged sword, as the move towards reopening economies boosted equities recently, but now there are fears that it might set the countries back in terms of the health crisis,&quot; noted David Madden, market analyst at CMC Markets.<\/p>\n<p>&quot;Reports from South Korea and Germany show that new cases have jumped amid the easing of restrictions, and thats why traders are dumping stocks today.&quot;<\/p>\n<h3>3.30pm: Might as well have extended the bank holiday weekend<\/h3>\n<p>The Bank of Englands chief economist, Andy Haldane has warned that the coronavirus pandemic could cause companies and households to curtail spending for some time.<\/p>\n<p>\u201cAll crises leave scars and this crisis assuredly will be no exception,\u201d said Haldane on a Royal Economic Society webcast.<\/p>\n<p>On the plus side there have been indications of stabilisation in some spending measures recently, Haldane said, albeit at very low levels; the employment market remains a train wreck, however.<\/p>\n<p>Talking of stabilising at low levels, the Footsie has apparently parked the bus at around the 5,927 level, down 9 points (0.2%).<\/p>\n<h3>2.50pm: US indices open lower<\/h3>\n<p>US indices opened lower without even bothering to throw investors a dummy like the Footsie did this morning.<\/p>\n<p>The Dow Jones industrial average was down 181 points (0.8%) at 24,151 and the S&amp;P 500 was odd 15 points (0.5%) at 2,915.<\/p>\n<p>The Footsie has at least pared its losses and is now down 12 points (0.2%) at 5,924.<\/p>\n<h3>2.00pm: Losses lengthen<\/h3>\n<p>As has been the case in Europe, US shares are set to take a step back today.<\/p>\n<p>Spread betting quotes point to the Dow Jones opening around 245 points lower at 24,086 and the S&amp;P 500 30 points lower at 2,900.<\/p>\n<p>\u201cOn the earnings front, the first-quarter reporting season is now drawing to a close in the US and last week did see estimates revised up marginally. The consensus is now looking for a mere 12% year on year drop; however, this good news did not extend to projections for the rest of the year which continue to be revised lower, with a 40% fall now expected in the second quarter,\u201d said Rupert Thompson, the chief investment officer at asset manager, Kingswood.<\/p>\n<p>In London, the FTSE 100s losses lengthened over the lunchtime session with the index drifting to 5,905, down 31 points (0.5%).<\/p>\n<p>British Gas owner <a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:CNA\/Centrica-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Centrica PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:CNA\/Centrica-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:CNA<\/a>), down 7.4% at 36.38p is jostling with budget airline easyJet PLC (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:EZJ\/easyJet-plc\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:EZJ<\/a>) for the Footsies wooden spoon ahead of the formers trading statement due out this week.<\/p>\n<p>At the moment, easyJet is still holding the wooden spoon; the shares, which have lost two-thirds of their value this year, are down 8.1% at 488.48p after analysts at Citibanks said the Prime Ministers message on Sunday about the lockdown \u2013 vague as it was \u2013 does not bode well for the airline industry.<\/p>\n<p>Johnson confirmed that travellers into the UK will be required to self-isolate on arrival in the UK.<\/p>\n<blockquote><p>\nUK airlines and airports fear &#039;devastating impact&#039; of proposed quarantine \u2013 <a href=\"https:\/\/t.co\/udrsVFY4qj\" rel=\"noreferrer noopener\" target=\"_blank\">https:\/\/t.co\/udrsVFY4qj<\/a> <a href=\"https:\/\/t.co\/oHpJ7HmuBD\" rel=\"noreferrer noopener\" target=\"_blank\">pic.twitter.com\/oHpJ7HmuBD<\/a><\/p>\n<p> \u2014 The ASAP (@ASAPThe) <a href=\"https:\/\/twitter.com\/ASAPThe\/status\/1259831088043753473?ref_src=twsrc%5Etfw\" rel=\"noreferrer noopener\" target=\"_blank\">May 11, 2020<\/a><\/p>\n<\/blockquote>\n<h3>12.15pm: IAG burning through cash<\/h3>\n<p>Fears of a second wave of infections have soured equity investors initially optimistic mood today.<\/p>\n<p>The FTSE 100 was down 9 points (0.2%) at 5,927.<\/p>\n<p>Noting some worrying trends in Korea and Germany regarding the coronavirus, Saxo Banks Peter Garnry said &quot;[The] number of COVID-19 cases have recently surged and today saw 34 new cases the highest since 9 April as new chains of the virus has started at nightclubs in Seoul. This comes after Germany just announced that its R0 (virus reproduction value) increased to 1.1 as it opened up society. These stories tell us that reopening the economies may not be that easy and LesEchos has in collaboration with Kayrros-EY Consulting made a new real-time economic activity index based on satellite images. This shows that Chinese activity despite reopening is still down 25% from levels before the COVID-19 outbreak.&quot;<\/p>\n<p>This obviously does not bode well for the tourism industry.<\/p>\n<p>British Airways owner IAG PLC (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:IAG\/International-Consolidated-Airlines-Group\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:IAG<\/a>) remains under the cosh, as its boss, Willie Walsh, addressed parliaments transport committee.<\/p>\n<p>The shares shed 3.6% at 183.6p after Walsh admitted the company was burning through cash.<\/p>\n<p>\u201cWeve probably exhausted every avenue that I can think of at this stage to shore up our liquidity. The cash has been reducing significantly and that will be the case as we go through May, June and July. Were not taking in any revenue,\u201d Walsh told MPs.<\/p>\n<p>Meanwhile, package tours operator and hotels owner <a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:TUI\/TUI-AG\/\" rel=\"noreferrer noopener\" target=\"_blank\">TUI AG<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:TUI\/TUI-AG\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:TUI<\/a>), up 1.4% at 268.6p, has unveiled a 10-point plan for the reopening of its hotels.<\/p>\n<p>It means the end for the time being of the \u201call you can eat\u201d self-service buffet, which is probably not a bad thing.<\/p>\n<p>The 10 points can be accessed via the tweet below if you fancy practising your German, although curiously point one is \u201conline check-in\u201d, which suggests there is no 74-letter-long word for it in the German language.<\/p>\n<blockquote><p>\n<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:TUI\/TUI-AG\/\" rel=\"noreferrer noopener\" target=\"_blank\">TUI AG<\/a>: TUI legt Zehn-Punkte-Plan f\u00fcr Hotelbetrieb nach Corona vor <a href=\"https:\/\/t.co\/J4ydhU5P3N\" rel=\"noreferrer noopener\" target=\"_blank\">https:\/\/t.co\/J4ydhU5P3N<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Hannover?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"noreferrer noopener\" target=\"_blank\">#Hannover<\/a><\/p>\n<p> \u2014 presseportal.de (@na_presseportal) <a href=\"https:\/\/twitter.com\/na_presseportal\/status\/1259776521214087169?ref_src=twsrc%5Etfw\" rel=\"noreferrer noopener\" target=\"_blank\">May 11, 2020<\/a><\/p>\n<\/blockquote>\n<h3>10.45am: The Footsie turns south<\/h3>\n<p>Londons blue-chips are lower on balance after a bright start fizzled out.<\/p>\n<p>The FTSE 100 was down 14 points (0.2%) at 5,922, with the heavily-weighted oil majors partly responsible for the decline as the oil price heads south.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:BP.\/BP-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">BP PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:BP.\/BP-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:BP.<\/a>) was down 1.8% at 310.25p and <a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:RDSA\/Royal-Dutch-Shell\/\" rel=\"noreferrer noopener\" target=\"_blank\">Royal Dutch Shell<\/a> PLC (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:RDSB\/Royal-Dutch-Shell-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:RDSB<\/a>) was off 0.7% at 1,254.6p as Brent crude for July delivery slipped 83 cents to US$30.14 a barrel.<\/p>\n<p>Away from the big guns, Georgia Healthcare Group PLC (LON:GHG) was in rude health, up 14% at 92p after it signed a US$ 25mln two-year loan agreement with the European Bank for Reconstruction and Development to fund potential working capital and operational expenditure requirements for the group&#039;s role in fighting the coronavirus pandemic in the country.<\/p>\n<p>Sticking with eastern Europe, up for sale <a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:VGAS\/Volga-Gas\/\" rel=\"noreferrer noopener\" target=\"_blank\">Volga Gas<\/a> PLC (LON:VGA) shot up for the second day in succession after a consultant to the company was hoodwinked into revealing confidential information about the formal sales process.<\/p>\n<p>A case of WhatsApp, doc?<\/p>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/vBsts0VmDTk\" width=\"560\">[embedded content]<\/iframe><\/p>\n<h3>9.20am: You will go on a long journey \u2026 just not anytime soon<\/h3>\n<p>London investors were bathing in sunny optimism on Monday morning in the hope of an imminent end to cabin fever.<\/p>\n<p>The FTSE 100 was up 49 points (0.8%) at 5,984, although travel stocks were conspicuous by their absence from the list of risers.<\/p>\n<p>Despite the first rumblings of a lifting of lockdown restrictions in the UK \u201cit seems fairly obvious that social distancing is likely to be with us for quite some time which means people will be travelling a lot less, as well as going out a lot less,\u201d according to CMCs Michael Hewson.<\/p>\n<p>Small wonder then that low-cost airline easyJet PLC (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:EZJ\/easyJet-plc\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:EZJ<\/a>) was the Footsies biggest faller, with a 6.7% fall to 495.7p.<\/p>\n<p>British Airways owner International Consolidated Airlines (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:IAG\/International-Consolidated-Airlines-Group\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:IAG<\/a>) was down 3.2% at 184.45p while aerospace-focused engineers <a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:MGGT\/Meggitt-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Meggitt PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:MGGT\/Meggitt-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:MGGT<\/a>) and <a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:RR.\/Rolls-Royce-Holdings-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Rolls-Royce Holdings PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:RR.\/Rolls-Royce-Holdings-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:RR.<\/a>) were off 5.4% at 243.9p and 3.8% at 276.2p respectively.<\/p>\n<p>Cruises operator <a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:CCL\/Carnival-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Carnival PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:CCL\/Carnival-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:CCL<\/a>), down 1.7% at 921.2p, was also friendless as market pundits questioned how long it would take for international travel to become as prevalent as it was before the pandemic.<\/p>\n<p>Away from the FTSE 100, Tissue Regenix PLC (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:TRX\/Tissue-Regenix-Group-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:TRX<\/a>) was the star performer in early trading after it announced a new product line that should add materially to revenue over the next couple of years.<\/p>\n<p>The shares shot up 30% to 0.875p after the company announced a collaboration with an unnamed \u201ctop 10 global healthcare company.\u201d<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:GFIN\/Gfinity-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Gfinity PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:GFIN\/Gfinity-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:GFIN<\/a>) jumped 26% to 1.825p after it hooked up with telecoms giant BT to co-produce a new competitive gaming series, The BT Sport FIFA Challenge.<\/p>\n<blockquote><p>\nYES ???? The BT Sport FIFA Challenge begins tonight! Join us at 7pm to meet our captains and watch them pick their Premier League draft teams (theres some absolute belters!) See you at 7 ???????? <a href=\"https:\/\/twitter.com\/RobbieSavage8?ref_src=twsrc%5Etfw\" rel=\"noreferrer noopener\" target=\"_blank\">@RobbieSavage8<\/a> <a href=\"https:\/\/twitter.com\/ugomonye?ref_src=twsrc%5Etfw\" rel=\"noreferrer noopener\" target=\"_blank\">@ugomonye<\/a> <a href=\"https:\/\/twitter.com\/ChelceeGrimes?ref_src=twsrc%5Etfw\" rel=\"noreferrer noopener\" target=\"_blank\">@ChelceeGrimes<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/FIFAChallenge?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"noreferrer noopener\" target=\"_blank\">#FIFAChallenge<\/a> <a href=\"https:\/\/t.co\/wZcIVzRme3\" rel=\"noreferrer noopener\" target=\"_blank\">pic.twitter.com\/wZcIVzRme3<\/a><\/p>\n<p> \u2014 Jules Breach (@julesbreach) <a href=\"https:\/\/twitter.com\/julesbreach\/status\/1258791325408862208?ref_src=twsrc%5Etfw\" rel=\"noreferrer noopener\" target=\"_blank\">May 8, 2020<\/a><\/p>\n<\/blockquote>\n<h3>8.40am: Bright start to the week<\/h3>\n<p>The FTSE 100 made a better than anticipated start to proceedings on Monday morning as the potential incremental easing of lockdown restrictions here in the UK outweighed worries over a second wave of coronavirus (COVID-19).<\/p>\n<p>The index of UK blue-chips opened 57 points higher at 5,988.77.<\/p>\n<p>That said, it was a confusing message from the UK prime minister, who has been panned by the opposition, the leaders of Scotland and Wales, and in the media. Adding to the mounting sense of chaos was cabinet member Dominic Raabs intervention, urging workers to stay at home until Wednesday \u2013 this as commuter trains in London were already full to capacity.<\/p>\n<p>\u201cBoris Johnsons plan to begin the phased and conditional re-opening of the UK economy has come under significant fire from many for being unclear and risking a second spike in the virus in the UK,\u201d said James Hughes at Scope Markets.<\/p>\n<p>Intercontinental Hotel Group (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:IHG\/Intercontinental-Hotels\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:IHG<\/a>), up 3.5%, led the blue-chip index with optimistic bargain hunters buoyed by a repeated buy recommendation from <a href=\"https:\/\/www.proactiveinvestors.co.uk\/NYSE:DB\/Deutsche-Bank\/\" rel=\"noreferrer noopener\" target=\"_blank\">Deutsche Bank<\/a>.<\/p>\n<p>BT Group (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:BT.A\/BT-Group-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:BT.A<\/a>) enjoyed a 3.1% bounce after the recent sell-off, prompted by the cancellation of the dividend. The cash will be diverted into a \u00a312bn scheme to roll fibre broadband out across the country, according to the Telegraph.<\/p>\n<p>On the FTSE 250, there was some hope for investors in Cineworld (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:CINE\/Cineworld-Group-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:CINE<\/a>) as the phased end to lockdown suggested that places such as multiplexes could start opening in July if all goes to plan. The stock was marked 6.4% higher.<\/p>\n<p>Among the tiddlers, Open Orphan, the healthcare group, opened 22% higher after inking a COVID-19 testing deal.<\/p>\n<p>Software group KRM22 surged 19% following a City fundraiser that brought in \u00a31mln and was done at a premium to the prevailing share price.<\/p>\n<h3>Proactive news headlines:<\/h3>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:MSMN\/Mosman-Oil-And-Gas-Ltd\/\" rel=\"noreferrer noopener\" target=\"_blank\">Mosman Oil And Gas Ltd<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:MSMN\/Mosman-Oil-And-Gas-Ltd\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:MSMN<\/a>) shares jumped in early deals on Monday following news of a farm-out deal for exploration permit (EP) 155 in the Amadeus Basin, in Australias Northern Territory. Westmarket Oil &amp; Gas, a subsidiary of <a href=\"https:\/\/www.proactiveinvestors.co.uk\/PRIVATE-UK:GGINA\/Georgina-Energy-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Georgina Energy PLC<\/a>, has inked a deal to earn a 70% stake by investing in work programmes at the project. Mosman will retain 30% and the transaction allows for the AIM-quoted firm to be carried in an exploration well in return for a further 15% interest in the project.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:GFIN\/Gfinity-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Gfinity PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:GFIN\/Gfinity-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:GFIN<\/a>) has partnered with BT Sport to co-produce a new competitive gaming series, The BT Sport FIFA Challenge. The esports firm said the six-episode series, which will encompass a four-team tournament featuring members of BT Sports football and rugby talent, will be produced remotely using BTs newly developed remote technology, while both firms will work together to oversee gaming content and competition elements. The series will use the FIFA20 video game developed by game developer EA Sports and will feature sports stars such as Robbie Savage, Joe Cole and Ugo Monye while Chelcee Grimes, singer, songwriter and Fulham Ladies player, will captain a women&#039;s team.<\/p>\n<p>Bidstack Group PLC (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:BIDS\/BidStack-Group-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:BIDS<\/a>) has confirmed to investors that it will deliver in-game advertising for Codemasters Group Holdings PLCs (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:CDM\/Codemasters-Group-Plc\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:CDM<\/a>) new DIRT 5 game. DIRT 5 is due for release in October 2020 on the new generation consoles Xbox Series X and PlayStation 5 along with the current Xbox One and Playstation 4 systems and PC (via Steam). It will also be available via Google Stadia by early 2021. &quot;It&#039;s great to be working with Codemasters, using our technology to deliver native in-game advertising for DIRT 5, which is the first racing game to be confirmed for the all-new Xbox Series x,\u201d James Draper, Bidstack chief executive said in a statement.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:OPTI\/OptiBiotix-Health-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">OptiBiotix Health PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:OPTI\/OptiBiotix-Health-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:OPTI<\/a>) has signed an exclusive distribution agreement with Taipei-based nutraceuticals firm MAXCARE to commercialise its SlimBiome product in Taiwan. The AIM-listed group said MAXCARE was \u201cwell placed to educate customers on the benefits and functionality SlimBiome can provide\u201d and had a team of registered dieticians to support commercialisation, with market exclusivity to be linked to minimum sales targets being achieved.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:TRX\/Tissue-Regenix-Group-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Tissue Regenix Group PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:TRX\/Tissue-Regenix-Group-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:TRX<\/a>) has received a further loan of US$417,000 under the US government-backed coronavirus (COVID-19) business support scheme. This funding is in addition to the receipt of a similar loan, for US$629,000, announced in mid-April. Following receipt of the loan, the board now expects that the group&#039;s current cash runway will extend at least until after the first week of August.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:ORPH\/Open-Orphan-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Open Orphan PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:ORPH\/Open-Orphan-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:ORPH<\/a>) said its subsidiary hVIVO has agreed a coronavirus (COVID-19) antibody testing partnership with NASDAQ-listed medical devices firm <a href=\"https:\/\/www.proactiveinvestors.co.uk\/NASDAQ:QTNT\/Quotient\/\" rel=\"noreferrer noopener\" target=\"_blank\">Quotient<\/a>. hVIVO will use <a href=\"https:\/\/www.proactiveinvestors.co.uk\/NASDAQ:QTNT\/Quotient\/\" rel=\"noreferrer noopener\" target=\"_blank\">Quotient<\/a>s recently-certified MosaiQ system to screen for SARS-CoV-2 antibodies. The technology is 100% effective in detecting the tell-tale antibodies and was able to rule out a person having them in 98.8% of cases.<\/p>\n<p>Open Orphan also announced the appointment of finnCap Ltd as its joint broker with immediate effect.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:IRR\/IronRidge-Resources-Ltd\/\" rel=\"noreferrer noopener\" target=\"_blank\">IronRidge Resources Ltd<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:IRR\/IronRidge-Resources-Ltd\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:IRR<\/a>) has raised \u00a34.75mln through a conditional share placing, with the funds earmarked for an accelerated drill programme at the Zaranou gold project in C\u00f4te d&#039;Ivoire. The group is issuing some 67.85mln new shares priced at 7p each. The funding comprises two tranches, due to the companys existing allowances, with just over 50mln new shares issued in the first tranche and a further 17.8mln to be issued conditionally with the passing of resolutions at a general meeting in June.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:TILS\/Tiziana-Life-Sciences\/\" rel=\"noreferrer noopener\" target=\"_blank\">Tiziana Life Sciences<\/a> PLC (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:TILS\/Tiziana-Life-Sciences\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:TILS<\/a>) (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:TILS\/Tiziana-Life-Sciences\/\" rel=\"noreferrer noopener\" target=\"_blank\">NASDAQ:TLSA<\/a>) has said it will showcase data via four submissions at the virtual replacement for the worlds leading cancer conference. Leading the way are two poster sessions on StemPrintER at the American Society of Clinical Oncology (ASCO) summit. The technology is being developed to predict the potential recurrence of breast cancer. In one of those posters, there is a direct comparison of Tiziana&#039;s product with the current market leader, Oncotype DX. A further two e-abstracts assess the potential of the firms Milciclib drug candidate in treating hepatocellular carcinoma.<\/p>\n<p>BlueRock Diamonds PLC (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:BRD\/Bluerock-Diamonds-Plc\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:BRD<\/a>) has said mining and processing operations have restarted at its Kareevlei diamond mine in the Kimberley region of South Africa. The company added that it expects to be operating at capacity by the end of this month but said that its expansion plans for the mine remain on hold.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:PHP\/Primary-Health-Properties-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Primary Health Properties PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:PHP\/Primary-Health-Properties-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:PHP<\/a>) has acquired twenty purpose-built medical centres in England and Wales and conditionally signed contracts for a further two. The consideration is \u00a347.1mln for the acquired centres with a further \u00a36.9mln payable for the additional two. PHP said that the acquired properties are leased to GPs, NHS operators or pharmacies with 91% of their rental income backed by the UK government. The deal will increase the size of FTSE250- group&#039;s portfolio to 510 properties worth just under \u00a32.5bn and with annual rents of \u00a3131mln.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:VAST\/Vast-Resources-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Vast Resources PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:VAST\/Vast-Resources-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:VAST<\/a>) has updated investors on the Baita Plai polymetallic mine project, in Romania, where it has placed new hire Adrian Badita as general manager. In a statement, the firm said Badita, who will report into chief operating officer Craig Harvey, will be responsible for the overall management of Baita Plai including, but not limited, to ensuring the safety and health of all the team at the mine as well as implementing and monitoring the companys development plan. Badita is due to start his position on May 18. He brings over 20 years mining experience including progressive supervisory experience in all phases of the mining industry, with specific experience including drill &amp; blast, haulage, waste management, risk management strategy and environmental site rehabilitation.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:AMYT\/Amryt-Pharma-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Amryt Pharma PLC<\/a>s (LON:AYP) has revealed that its business performance exceeded expectations in the first quarter of 2020. The commercial-stage biopharmaceutical company, which is focused on life-threatening rare diseases, said its revenues in the first quarter of this year rose by 30% to US$44.6mln from US$34.3mln in the corresponding period of 2019. Revenues were 10% higher quarter-on-quarter. The group made an adjusted operating profit of US$4.6mln before finance expenses versus a loss of US$2.8mln in the same quarter of last year.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:AAU\/Ariana-Resources-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Ariana Resources PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:AAU\/Ariana-Resources-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:AAU<\/a>) has boosted the resource estimate at its Kizilcukur project in Turkey. The new resource stands at 21,100 ounces of gold and 620,000 ounces of silver, with contained metal on three main veins, the group said, with 85% of the tonnage in the measured and indicated categories. Higher grade ore has been found on the Zeki Main Vein, and trial mining has commenced, it added. &quot;This is a significant improvement over the previous resource estimate, which integrates the latest drilling data and geological modelling,\u201d Arianas managing director Dr Kerim Sener said in a statement.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:ORR\/Oriole-Resources-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Oriole Resources PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:ORR\/Oriole-Resources-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:ORR<\/a>), the exploration company-focused on West Africa, said it plans to commence its maiden drilling programme later this year on its Bibemi gold project in Cameroon, subject to the easing of coronavirus (COVID-19) related travel restrictions. The AIM-listed firm noted that results from its exploration programme in the fourth quarter of 2019 have enabled the company to expand its planned 2020 drilling campaign at the Bakassi Zone to almost 2,000 metres (m).<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:GLR\/Galileo-Resources-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Galileo Resources PLC<\/a> (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:GLR\/Galileo-Resources-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:GLR<\/a>) has announced it is to acquire 21 prospecting licences inside the Kalahari Copper and Limpopo Mobile Belts in Botswana from Crocus-Serv (Pty) Ltd. covering 14,875 square kilometres. The consideration for the acquisition comprises 38.8mln shares and \u00a310,082 in cash. Galileo will conduct due diligence during a 30-day exclusivity period. &quot;We are very pleased with this proposed acquisition,\u201d Galileo chief executive Colin Bird said in a statement posted after the market close on Thursday.<\/p>\n<p><a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:UJO\/Union-Jack-Oil-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">Union Jack Oil PLC<\/a>s (<a href=\"https:\/\/www.proactiveinvestors.co.uk\/LON:UJO\/Union-Jack-Oil-PLC\/\" rel=\"noreferrer noopener\" target=\"_blank\">LON:UJO<\/a>) has confirmed the onshore UK firm is fully funded for all its current drilling and well testing commitments in its full-year 2019 results statement. The AIM-quoted company told investors it had a \u00a35.5mln cash balance at the start of May 201<a href=\"https:\/\/www.proactiveinvestors.co.uk\/companies\/news\/919203\/ftse-100-closes-just-above-water-as-sterling-weakness-and-second-wave-fears-weigh-919203.html\" rel=\"noreferrer noopener\" target=\"_blank\">Read More \u2013 Source<\/a><br \/>\n[contf]<br \/>\n[contfnew]<br \/>\n        <img decoding=\"async\" src=\"https:\/\/webfiles.thecse.com\/PRO_LOGO_P_COLOUR.png?sYToe11NLbcXiyGkVa5syF9WB04cy98G\"\/><\/p>\n<h5><a href=\"https:\/\/www.proactiveinvestors.co.uk\/\" rel=\"noreferrer noopener\" target=\"_blank\">Proactiveinvestors<\/a><\/h5>\n<p>[contfnewc]<br \/>\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTSE 100 index closes up a shade<br \/>\nUS benchmarks mainly lower<br \/>\nBoE economist warns spending levels coul..<\/p>\n","protected":false},"author":1,"featured_media":149361,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"class_list":["post-149360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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