London stocks rose in early trade on Monday, taking their cue from a positive session in Asia as investors welcomed signs that new coronavirus cases and deaths are slowing.
Executives at waste management company Biffa on Monday volunteered to take a 20% paycut as staff started to go on furlough in response to the Covid-19 crisis.
Smiths Group said trading was increasingly affected by the Covid-19 crisis as the engineering company reported a 6% increase in operating profit.
Petrofac pulled its final dividend and withdrew its guidance on Monday as it said it was cutting its personnel by 20% and furloughing staff due to the coronavirus pandemic.
Bodycote said on Monday that first-quarter trading has not been "significantly" impacted by the Covid-19 pandemic but that its proposed final dividend is under review given current uncertainty.
Aircraft engine maker Rolls-Royce pulled its dividend and full year guidance as it moved to mitigate the impact of the coronavirus pandemic.
WH Smith said on Monday that it has secured new lending facilities of £120m that are conditional on raising new equity.
London open The FTSE 100 is expected to open 155 points higher on Monday, having closed down 1. 18% at 5,415. 50 on Friday.
London stocks were set for a positive open on Monday, with traders expected to take heart from a decline in coronavirus deaths.
The government has committed to piloting no-interest loans for people on low incomes, but is resisting calls for the support to be accelerated to tackle the coronavirus recession. The coronavirus crisis has prompted concerns that people on low incomes could fall through the gaps in the government’s support, causing them to look to payday lenders and other providers of high-cost credit to pay for essential goods during the lockdown, when they are unable to look for work.
Sage Group scrapped its £250m share buyback as the accounting software company predicted the Covid-19 crisis would hit revenue growth in the second half of the financial year.
Prime Minister Boris Johnson has been admitted to hospital due to persistent coronavirus symptoms.
Norway may cut its oil production alongside other major producers if an agreement for a significant combined reduction can be reached.
Co-working is here to stay, but until it becomes clear when the lockdowns in place around the globe will be lifted, International Workplace Group (IWG) is a "stock to watch" not one to buy, the Sunday Times's Sam Chambers said.
Fashion retailers and their suppliers are braced for a massive shake-out of the industry as an estimated £10bn of clothing piles up in warehouses during the coronavirus lockdown. Retail insiders said major firms including Primark, Peacocks, Arcadia and Next had all stopped taking deliveries to their warehouses because they had no more room. Numerous poorer performing retailers, including Debenhams and vintage-inspired retailer Cath Kidston, are on the verge of collapse.
The focus over the coming week will be on the success or not of containment measures across the globe.
Stocks on Wall Street finished lower on Friday after data revealed that non-farm payrolls collapsed in March, although a rally in crude oil futures helped to stem losses.
Legal & General said on Friday that it will pay a final dividend for 2019 despite a warning from the Bank of England.
Stocks across the Continent finished the week with moderate selling, despite the release of service sector surveys in Italy and Spain both of which printed at record lows, underscoring the sheer magnitude of the hit from the Covid-19 pandemic.
The increase in the number of Italians infected with the Covid-19 coronavirus continues to slow.