Headlines from the Proactive UK newsroom.
The FTSE 100 headed 32 points lower at 6,237 as Brexit shoved coronavirus from the headlines. The government said it’s prepared for a no-deal outcome while the FT says hopes for a quick trade deal with the US have faded.
Closed high street shops should be converted into flats and apartments to reboot ailing town centres according to a thinktank. Homeowners will also be able to add two more floors without planning permission.
Perhaps in anticipation, DIYers are flocking to Kingfisher PLC (LON:KGF) with underlying interim profits ahead of last year following strong sales growth in its second quarter. The B&Q owner reported like-for-like (LFL) sales have jumped 21.6% over the past three months.
Silver is the metal of the day with a further rise of 7% overnight in Asia. The price is up 15% this week alone and being pulled up by the strength of gold say analysts.
Melrose Industries PLC (LON:MRO), the owner of aerospace and automotive engineer GKN, has warned some job cuts are “inevitable” as revenues plunged 27% in the first half. Aerospace sales were down around 18% and are expected to fall 25-30% for the full year.
Zoetic International PLC (LON:ZOE) has made a three-pronged change to its cultivation strategy. The CBD specialist is expanding its seed testing programme; terminating the lease on its Colorado production facility; and setting up a European joint venture to grow high-quality hemp seeds.
Published at Wed, 22 Jul 2020 10:24:00 +0000-Morning Report: Brexit returns to send FTSE 100 lower, silver shines again