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Market report: Negative FTSE as positive Covid cases rise amid further lockdowns

FTSE 100 opened in the red amid further lockdowns across Europe and fading hopes of a stimulus package before the US election.

London’s main index slipped 29 points to 5,859 in early trading. UK inflation jumped to 0.5% in September from 0.2% in August. A rise in prices in cafes and restaurants was blamed after the Eat Out to Help Out scheme was phased out.

Royal Mail PLC (LON:RMG) has launched a 72p pick-up service to collect parcels and mail from people’s homes. The courier is trying to grab market share from competitors DPD, Hermes and DHL.

Netflix Inc (NASDAQ:NFLX) missed forecasts after reporting its weakest subscriber growth in four years. Summer trading suffered from increased competition from other streaming services and the return of live sports on television.

Thor Mining PLC (LON:THR) shares rocketed as its reported visible gold in stream panning at its Ragged Range project in Western Australia. Soil sampling is the next step says the junior.

Oncimmune  (LON:ONC) has welcomed the publication of abstracts from two clinical studies that provide “independent validation” of the company’s EarlyCDT Lung blood test. The data were presented in detail at the recent American College of Chest Physicians annual meeting.

Guild Esports PLC (LON:GILD) has unveiled its latest signing - a top-tier squad competing in Valorant, a shooter game launched by Riot Games in June. The team have moved from Sweden’s successful ‘Team Bonk’.

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Market Cap: £4.85 billion

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