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London stocks fell in early trade on Friday as investors mulled over Chinese services data and looked ahead to the release of the latest US non-farm payrolls report, amid ongoing concerns about the escalating coronavirus pandemic.
Pub and hotels group Fuller, Smith & Turner said on Friday that it will not be proposing a final dividend as it furloughs the majority of its staff due to the coronavirus, with the company’s chief executive agreeing to take a 25% pay cut.
OneSavings Bank said on Friday that it was pulling its final dividend as it looks to weather the coronavirus pandemic.
Great Portland Estates said on Friday that it remains in a strong financial position, that it has collected 63% of its March rent and that a decision on the final dividend will be made once the year end results are finalised in May.
London stocks were set to fall at the open on Friday as investors continued to fret about the impact of the coronavirus pandemic and looked ahead to the release of the latest US non-farm payrolls report.
The chancellor, Rishi Sunak, has banned banks from requesting personal guarantees for emergency loans to small businesses amid growing government concern that lenders have been slow in meeting demands for help. With the rapid increase in the number of universal credit claims suggesting many small companies have already collapsed since the economy was locked down, Sunak combined a new package of support for business with a warning to banks that they had to move more quickly.
National Express will temporarily suspend all services from Sunday 5 April as the coronavirus pandemic dents demand.
British Airways parent International Consolidated Airlines Group has scrapped its final dividend as it looks to weather the coronavirus pandemic.
Hollywood Bowl pulled its interim dividend on Thursday and said it was unable to provide any full-year guidance due to the coronavirus outbreak.
London stocks were still in the black by midday on Thursday, with BP and Shell pacing the gains amid firmer oil prices, as investors eyed the latest US jobs data.
UK house prices rose in March but the market is now "grinding to a halt" due to the coronavirus and government measures to slow its spread, according to a survey released by Nationwide on Thursday.
Premium chocolatier Hotel Chocolat said on Thursday that it had decided to cancel its interim dividend.
Low-cost airline Wizz Air reported a slump in March passenger numbers on Thursday as it took a hit from the coronavirus pandemic.
London equity markets rose in early trade on Thursday following heavy losses in the previous session, with energy shares on the front foot amid rising oil prices.
Property company LondonMetric said on Thursday that its 2020 EPRA earnings are set to be in line with expectations and the third-quarter dividend will be paid as planned, adding that it was still too early to assess the impact of the Covid-19 outbreak.
Fresh foods provider Bakkavor withdrew its 2020 guidance and scrapped its final dividend on Thursday due to the coronavirus pandemic.
Self-storage company Safestore said on Thursday that it will pay its final dividend as its stores remain open despite the coronavirus outbreak.
Distribution and services group Bunzl said on Thursday that it is scrapping its dividend and withdrawing its 2020 guidance due to the coronavirus outbreak.
London stocks were set for more losses on Thursday following a downbeat US session, amid growing concerns about the coronavirus outbreak and its impact on the global economy.
Millions of people across Britain risk falling through gaps in the coronavirus wage subsidy plan and benefits system, according to two of the country’s leading economics thinktanks. After ministers hurriedly pulled together plans to increase the level of financial aid available from the state as the Covid-19 outbreak intensifies, the Institute for Fiscal Studies said many self-employed workers would still get no support, while others would be left financially better off as a result of the crisis.