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London open: Stocks rally after central bank intervention
London stocks rallied in early trade on Friday as investors welcomed central bank intervention, but the Covid-19 profit warnings and dividend cancellations kept rolling in.
Bank of England cancels 2020 stress tests in response to Covid-19
The Bank of England said it had cancelled its annual stress tests for major banks to help them focus on lending during the coronavirus crisis.
Greencoat UK says portfolio generation 'strong', divi well covered
Greencoat UK Wind said on Friday that its portfolio generation to date has been strong and is about 20% ahead of budget, while its dividend is well covered.
Inchcape suspends share buyback amid Covid-19
Car dealership Inchcape said on Friday that it was suspending its share buyback programme due to the Covid-19 pandemic.
Covid-19: Travis Perkins suspends divi, puts Wickes demerger on hold
Building materials group Travis Perkins suspended its full year dividend, postponed the planned demerger of its Wickes DIY unit and scrapped future guidance as it braced for the impact of the coronavirus.
Investec FY profits set to fall as Covid-19 takes its toll
Asset manager Investec said on Friday that full-year profit was expected to decline on the year as it takes an added hit from the coronavirus outbreak.
InterContinental Hotels scraps divi, sees RevPar sliding 60% in March
InterContinental Hotels warned on Friday that global revenue per available room was set to tumble 60% due to the coronavirus outbreak, as it scrapped its dividend and said demand for hotels was currently at the lowest levels it has ever seen.
Frasers Group in profits warning; abandons FY guidance on Covid-19
Frasers Group issued a profits warning on Friday and scrapped future guidance as it expected the Covid-19 crisis to cause “significant disruption” to sales.
London pre-open: Stocks seen up after central bank intervention
London stocks were set to rise at the open on Friday following a mostly positive session in Asia, as investors welcome central bank intervention.
Friday newspaper round-up: Mortgage holiday, food retailers, BP
Mortgage holders clamouring to obtain a “payment holiday” during the coronavirus crisis are waiting hours to get through to Britain’s banks, and many have given up. Twitter has been deluged with complaints from customers unable to speak to someone at their bank. Some claimed they were waiting for as long as three and a half hours. Many expressed their anger at the lack of a simple online form that could be used to request a payment holiday. – Guardian.
Wetherspoons cancels divi, warns on profit as Covid-19 slams sales
Wetherspoons cancelled its interim dividend and warned on full year profits as the coronavirus and government advice to stay away from pubs and restaurants hit current sales.
US close: Stocks finish higher as central banks pile on the stimulation
Shares on Wall Street finished higher on Thursday, helped by the latest moves from authorities to offset the fallout from the Covid-19 coronavirus pandemic, and the immediate effect of efforts to contain it.