FTSE 100 Slides to Two-Month Low as Growth Concerns Rise

The FTSE 100 slid nearly 1.5% to a two-month intraday low of 6903.87, mirroring sharp falls in European equities and other risky assets as concerns grow about a weakening global growth outlook amid rising coronavirus cases. Virus-related restrictions end in England starting Monday but there are concerns that this comes just as virus cases are increasing rapidly. "Investors worry about the virus, U.S.-China relations, and generally weak economic reports, particularly increased fears of inflation," Marshall Gittler, analyst at BDSwiss, says. Nearly all stocks within the FTSE 100 are lower, with travel and leisure stocks hit the most, while miners and oil-linked stocks also fall sharply as commodity and oil prices fall. British Airways owner International Consolidated Airlines is the biggest faller, down 4.3%. 


 
Companies News:

Shanta Gold Cuts 2021 Production Guidance, Shares Fall

Shares in Shanta Gold Ltd. fell on Monday after the company said that production fell for the second quarter and lowered its production guidance for the year.

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Sensyne Health Explores Potential US Listing

Sensyne Health PLC said Monday that it is considering a potential additional listing on Nasdaq or other markets.

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East Star Resources PLC Proposed Acquisition of Gold Projects & Suspension

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Eqtec Sees 2021 Revenue, Earnings On Track; Appoints New Finance Director

Eqtec PLC said Monday that its 2021 revenue and earnings are on track, and it has appointed Nauman Babar as finance director with immediate effect.

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Ultra Electronics 1H Profit Rose

Ultra Electronics Holdings PLC said Monday that pretax profit for the first half of fiscal 2021 rose after booking lower costs.

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IQGeo Expects Higher 1H Revenue, Narrowed Adjusted Loss

IQGeo Group PLC said Monday that it anticipates its first-half performance will meet its expectations, with a growth in revenue and a reduction in earnings loss.

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Netcall Expects FY 2021 to Meet Market Views, Higher Revenue

Netcall PLC said Monday that it expects fiscal 2021 results to meet market expectations with increased revenue, adjusted earnings growth and sales momentum.

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Lithium Miner Bradda Head Shares Rise on Trading Debut

Shares in Bradda Head Holdings Ltd., a North America-focused lithium development group, rose Monday as they began trading on London's junior AIM market.

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Roquefort Investments Encouraged by Early Opportunities for Acquisitions

Roquefort Investments PLC said Monday that it has been encouraged by the initial due diligence it has carried out on some opportunities as it sees to acquire a biotechnology business.

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M.P. Evans Group 1H Crude Palm-Oil Production Rose; Maintains Dividend

M.P. Evans Group PLC said Monday that crude palm-oil production for the first half of 2021 rose 29%, and that the board maintains its intention to recommend a total dividend.

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Watkins Jones Names Future Chairman and CFO

Watkin Jones PLC said Monday that it has appointed Alan Giddins as chairman-designate with immediate effect, and Sarah Sergeant as chief financial officer-designate effective from Oct. 6.

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Logistics Software Company Microlise to Raise GBP18.6 Mln in London IPO

Microlise Group PLC, a provider of transport-management software, said Monday that it plans to raise 18.6 million pounds ($25.6 million) through an initial public offering on London's junior AIM market at a valuation of GBP156.5 million.

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Revolution Beauty Shares Fall in London Market Debut

Shares of Revolution Beauty Group PLC fell as much as 6.3% on Monday as the company started trading on London's junior AIM, implying a market capitalization of 464.1 million pounds ($639 million). 


 
Market Talk:

England's 'Freedom Day' Divides Small and Medium Businesses

0732 GMT - More than half of U.K. small- and medium-sized businesses believe lockdown restrictions in England are being lifted too soon Monday, which has been dubbed "Freedom Day," risking another lockdown, a poll compiled by business insurance provider Simply Business suggests. Almost one-third among the owners polled said they will retain social distancing and reduced capacity in their businesses while 29% said there should be clearer guidelines from the government to help small businesses reopen safely. "Small business owners' hopes for Freedom Day are at risk of turning to fears... Given the rising number of [coronavirus] cases, it comes as no surprise that there are strong calls for clearer guidance on how to safely manage a full reopening of businesses," Alan Thomas, U.K. CEO at Simply Business, says.

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UK Gilts Gain on Soaring Covid-19 Cases

0718 GMT - Demand for perceived haven U.K. sovereign bonds rise Monday amid widespread risk aversion in most markets and as England's big economic reopening is overshadowed by soaring new coronavirus cases. A surging number of new infections coincided with Prime Minister Boris Johnson and finance chief Rishi Sunak being forced to self-isolate after health secretary Sajid Javid tested positive for Covid-19. The 10-year gilt yield trades 2 basis points down to 0.612% compared with Monday's close, according to Tradeweb. Yields fall when bond prices rise.

Contact: London NewsPlus, Dow Jones Newswires; +44-20-7842-931

(END) Dow Jones Newswires

07-19-21 0430ET