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Morning Report: FTSE 100 to open deep in red as US deaths rise and fears grow of global recession

Published: 03:20 01 Apr 2020 EDT

The FTSE 100's expected to open deep in the red again as US and Asian markets fell overnight. The rising death toll in the US and fears of a global recession's unnerved investors.

All five of the UK’s top banks have suspended dividend payments after a request from the Bank of England to preserve cash during the coronavirus crisis. Lloyds, Barclays, HSBC, RBS and Standard Chartered had been expected to pay out more than £8bn in the next two months.

Auto Trader (LON:AUTO) has launched a placing to raise cash to tide it over the crisis. Worth £4bn last night, the digital car dealer will use a bookbuild to sell shares equivalent to 5% of its current amount in issue.

Seeing Machines (LON:SEE) has signed a pre-production license deal with a major Automotive Tier 1 group. The agreement is with one of the company's existing partners but is the first licensing deal for its driver monitoring technology in the transport sector.

Primary Health Properties (LON:PHP) says rent collection across its estates of GP practices and pharmacies has been robust in the past quarter. The FTSE250 property group says it intends to maintain dividend payments and a progressive payout policy.

And FX Group Argentex(LON:AGFX) also says trading has been strong through the current crisis. Turnover in the year to the end of March rose by 30% with 450 new SME customers.

Seeing Machines highlights strong cash position; says it's on track to...

Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) CEO Paul McGlone joined Proactive's Stephen Gunnion with a comprehensive update on the company’s performance for the first half of 2024. McGlone highlighted a strong financial position with over US$22 million in cash, alongside receivables and...

on 02/13/2024