Energy supply Ovo said it was axing 2,600 staff only months after spending £500m on SSE's retail division as it claimed the coronavirus pandemic had forced it to speed up integration plans.
Avon Rubber increased its interim dividend by 30% and said it was confident about its prospects for the year as the company reported a two-thirds increase in first-half profit.
London stocks were a little firmer in early trade on Tuesday as investors weighed up a massive jump in UK unemployment claims against hopes of a coronavirus vaccine and optimism over lockdown easing, which continued to underpin the travel sector.
Energean Oil & Gas said it had terminated a £225m deal to sell the UK and Norwegian assets it acquired from Italy's Edison last year.
Convenience food company Greencore said on Tuesday that demand for its food-to-go categories was beginning to stabilise after a sharp decline due to the coronavirus outbreak, as it announced it was cancelling its final dividend.
DCC increased its final dividend as the marketing and support services company reported a rise in annual profit and "robust" trading in April and May.
Homeserve posted a jump in full-year revenue on Tuesday and hiked its dividend but warned that Checkatrade breakeven will be delayed due to the coronavirus pandemic.
Chilean copper miner Antofagasta said on Tuesday that it has cut its 2019 final dividend in light of the coronavirus pandemic and the measures taken to slow its spread.
London open The FTSE 100 is expected to open 42 points higher on Tuesday, having closed up 4. 29% at 6,048. 59 on Monday.
London stocks were to rise again on Tuesday following sharp gains in the previous session, which was underpinned by hopes of a coronavirus vaccine.
Government wage subsidies for disabled and vulnerable workers could be drastically scaled back from August under Treasury plans to wind down its Covid-19 furlough scheme, employers’ groups have warned. Charities and social enterprise employers have been told by the government that its plan to bring the coronavirus job retention scheme to an eventual close this autumn does not currently include an exemption for vulnerable workers. – Guardian.
US stocks finished firmly higher on Monday, as Jerome Powell said he was optimistic of the US economy's ability to bounce back from the Covid-19 pandemic, and amid positive data from Moderna Therapeutics' second phase clinical trial on a vaccine candidate for the coronavirus.