Morning Report: FTSE 100 bounces but coronavirus and oil concerns remain

Headlines from the Proactive UK newsroom.

The FTSE 100 is expected to rebound up to 180 points in early trading after the worst session for the index since the 2008 financial crisis. Asian shares rallied overnight after Japan’s prime minister said the country’s central bank would support markets. 

The results from a clinical trial of a broad-spectrum flu jab being developed by an Open Orphan (LON:ORPH) joint-venture have been published in a peer-reviewed journal. The journal article concluded the vaccine is able to produce an immune response and “merits phase III development” to explore efficacy.

W Resources PLC (LON:WRES) has raised £756,000 via a placing of just under 210mln new shares to new Spanish investors. The money was raised at a price of 0.36p per share.

Learning Technologies (LON:LTG) has agreed to buy Open LMS from Blackboard for $31.7mln cash.

Future (LON:FUTR) has postponed several events due to coronavirus but does not expect any impact on profits either this year or next. Delaying in a timely manner means it can avoid unrecoverable costs said the magazine publisher.

Virgin Atlantic, meanwhile, has confirmed that due to the virus it is flying some planes empty just to maintain slots at Heathrow and Gatwick. If a slot is not used it is forfeited.

SDX Energy (LON:SDX) has announced a successful result in the Rabul-3 well, in Egypt, encountering two reservoirs.  The Rabul-3 development well was drilled down to a depth of 5,129 feet and encountered approximately 116 feet of net heavy oil pay across the Yusr and Bakr formations.

Domino's Pizza has appointed Matt Shattock as chairman from next Monday. Shattock is the former CEO and current chairman of drinks giant Beam. The pizza delivery group is still looking for a chief executive.


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