The Market Report with Katie Pilbeam.
FTSE 100 made decent early progress and shrugged off the likely extension of coronavirus restrictions. London’s blue-chip index rose by 23 points to 7,157.
June 21st was set to be ‘Freedom Day’ but its looking likely most coronavirus restriction will remain in place for another four weeks. This could mean capacity limits could remain for weddings, sporting events, pubs, cinemas and nightclubs.
Bitcoin bounced higher on Monday after Tesla Inc (NASDAQ:TSLA) boss Elon Musk said the electric car maker plans to resume acceptance of payments in the cryptocurrency once its miners use 50% clean energy. The news was released in a tweet on Sunday.
Fashion retailer Ted Baker PLC (LON:TED) said its turnaround plan will see it increase full-price sales by 15% in the second half this year, open ten new stores and boost the use of sustainable cotton. The group also wants rent savings of at least 15%.
Among the small caps, Tavistock Investments PLC (LON:TAVI) has entered a ten-year strategic partnership with Titan Wealth, which will acquire Tavistock’s asset management segment for £40mln. Tavistock will act as Titan's retail distribution partner.
Caerus Mineral Resources PLC (LON:CMRS) said drilling results topped expectations at the Troulli project in Cyprus. The miner has found significant gold and copper mineralisation.
Block Energy PLC (LON:BLOE) inked a deal with Baker Hughes to support drilling operations in Georgia. The first project will be a horizontal well in West Rustavi, where the company is targeting 2.1mln barrels of resources.