World News – UA – FTSE 100 collapses as EU leaders consider month-long lockdowns

The FTSE 100 is down 187 points (33%) to 5542 and it is a small consolation that it is doing slightly better than the stock markets in France, Germany or Italy

« Global stocks are in risk-free mode, due to rapid rise in Covid-19 cases in the US and Europe, suggesting a second violent wave as winter approaches In Europe , several countries are near the maximum capacity of intensive care units and France is considering a new national lockdown for a month from Friday Germany is tightening its restrictions on mobility and overall this increases the risk of a further decline of the European economy, ”said Peter Garnry of Saxo Bank

It’s still not safe for equity investors to take the lead; it actually got worse during lunch

The FTSE 100 is now down more than 3% – 173 points, if you prefer – to 5,556, passing 5,600 on its descent without even a brief « good to see you again »

Only two components of the index are in positive territory and both are (roughly) in the retail sector

Fashion Flogger Next PLC (LON: NXT) is up 10% to 6154p after the master of under-promises and over-deliveries did so again with a market statement in which it raised its forecast for the full year

The other non-victim today is Ocado Group PLC (LON: OCDO), the specialist in grocery delivery technology, which is up 07% to 2.329p

« This is getting very ugly and has nothing to do with the elections COVID-19 anxiety is back as hospital capacity issues in the northern hemisphere will likely mean lockdowns will be firmly reinstated » , Moya said

Despite expectations of a mixed opening, major Wall Street indices all saw sharp declines at the opening bell as US markets followed the lead of the European liquidation

In the first few minutes of trading, the Dow Jones Industrial Average fell 198% to 26919 as the S&P 500 sank 19% to 3325 and the Nasdaq slumped 19% to 11,213

Market sentiment appears to have turned firmly negative amid rising coronavirus cases and what many now see as the inevitability of further lockdowns in several countries as the winter period approaches

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The outlook for traders may also have been affected by the results of aircraft maker Boeing, which reported another quarterly loss and unveiled plans to cut around 7,000 jobs by the end of next year, the pandemic that has wiped out most of the world’s airlines and, by extension, has caused orders for its planes to dry up

Back in London, the FTSE 100 continued to retreat and lost 123 5,605 points at 145h

Rising expectations that tougher lockdowns are underway in Europe and the US have rocked markets

The third wave of coronavirus (COVD-19) cases and hospitalizations continues to accelerate, Ian Shepherdson observed at Pantheon Macroeconomics

« The number of cases easily exceeded 6.9% increase in the number of tests over the same period, as the positivity rate rose to 82% – the highest since August 12 – from 74% » said Shepherdson

« The increase in test positivity is a signal, not noise The trend in the national positivity rate started to increase in the first week of this month, and shows no signs of stopping, so even as the number of tests continues to increase The trend is now around 7½%, lower than in the worst affected countries in Western Europe – France is at 10½% – but Canada is only 2%, and declining, ”added Shepherdson

Speaking of Europe, the bet is that France will announce a month-long national lockdown in France tonight, after the country recorded its highest number of deaths per day since April

« Angela Merkel is set to make a case for a ‘lock on the light’ when she talks with German regional leaders later today and in the UK the daily death toll hit its worst levels since May, increasing the call for a national « circuit breaker » , rather than the current piecemeal approach of government, « commented Connor Campbell of Spreadex

Lockdown fatigue is definitely setting in and part of it is that the goalposts keep changing and there is no clear roadmap

The third quarter results of drug giant GlaxoSmithKline PLC (LON: GSK) did little to alleviate the gloom, even though the numbers weren’t terrible

The company said a resumption of vaccinations in the United States had kept it on track to meet forecasts for 2020, even with a significant disruption from the coronavirus

Sector counterpart AstraZeneca PLC (LON: AZN), down 04% to 8026p, fared slightly better after saying its cancer treatment candidate Ehertu was granted priority review status by the United States Food and Drug Administration (FDA)

US stocks should follow Europe’s lead and head south today, although this isn’t the first time tech stocks are a law in themselves

Spread betting quotes indicate that the Dow Jones falls 488 points to 26976 and the S&P 500 plunges 48 points to 3343, but the highly technological NASDAQ Composite increases 46 points to 11,477

« Continental European markets are once again at the forefront of a collapse in stock valuations, a second wave of nationwide lockdowns increasing the risk of a double-dip recession As the Regional action has helped alleviate much of the negative impact on the market in recent months, the sharp increase in Covid business across Europe clearly calls for more dramatic measures With the DAX falling to a new low since four months, we appear to be on track to finally see the second major stock price collapse since the March low, ”said Joshua Mahony of IG

This morning, the industrial holding company General Electric surprised the market with a positive third quarter earnings per share (after adjusting for exceptional items) of 6 cents, compared to 15 cents in the same quarter last year

Analysts following the old workhorse expected a loss per share of around 4 cents

Courier service United Parcel Service was another in the good books of the market after its third quarter earnings per share jumped to $ 224 from $ 2 01 a year earlier, ahead of the consensus forecast of $ 190

« Today’s top U.S. economic releases are the September Merchandise Trade and Distribution Sector Inventory Reports, which will allow analysts to further tweak their growth estimates ahead of the preliminary report on Thursday’s third quarter GDP, « according to Daiwa Capital Markets

« Turning to the trade report, we expect the goods deficit to narrow from US $ 2.1 billion to US $ 81 billion in September, with exports likely increasing for a fourth consecutive month – but remaining well below pre-pandemic levels – and imports possibly halting after peaking at 7 months in August, « Daiwa said

Back in the UK, the weakness of the pound sterling in the forex markets dilutes some of the pain felt by blue chips

According to the British Retail Consortium (BRC), prices in UK stores fell 12% in October after falling 32% in September

« As the retail sector began to see sales rebound, prices for non-food products saw the smallest drop since the start of the pandemic However, given the broader economic backdrop, with tighter restrictions and a possible rise in unemployment, we are likely to see continued discounts in non-food items for months to come, ”said Helen Dickinson, Managing Director of BRC

« Meanwhile, food inflation has remained low, with supermarkets competing fiercely to offer the best quality products at the lowest prices, » she added.

Instead of gradually dropping throughout the day like it did on Monday and Tuesday, the Footsie saw its big drop early today

The London benchmark of blue-chip stocks fell 96 points (17%) to 5,633 as second wave of lockdown looms

« Investors are becoming aware of the risks associated with a second wave of the coronavirus pandemic, » said AJ Bell chief investment officer Russ Mold

« The announcement that France is considering a large-scale national lockdown amid the surge in cases unsurprisingly frightens markets, with Germany among other European countries also considering tougher measures and with the UK infections and hospitalizations increase, pressure is likely to mount on government to follow suit

« Businesses that came close to getting by in the spring may not survive another period without any business despite the generous state support that has been announced, » Mr. Mold

On companies scrutinizing, shares of retailer Shoe Zone PLC (LON: SHOE) received a kick after its year-long trade update

Meanwhile, the CEO of ShoeZone says the reintroduction of commercial tariffs could result in up to 90 store closures – 20% of its holdings – in the coming years Rates now close to 3 / 5th of the rent

Shares lost about a sixth of their value to 38 pence after the company warned more store closures were likely if trade rates were reintroduced

Clay brick maker Ibstock PLC (LON: IBST) was another company hit by foreclosure restrictions earlier this year, but it said in its business update that demand for its products at third quarter had returned to around 90% of pre-COVID levels, which did not stop stocks from sliding 10% to 1602p

« At the height of the lockdown, the group took steps to cut costs and eliminate older, less efficient factories This could prove to be crucial in the coming months, as a bleak economic outlook does not generally bode well for construction activity. We also believe that debt reduction will likely remain a priority for the group in the near future – which could hamper investment in new capacity and the payment of dividends to shareholders; however, in such a cyclical industry, a solid foundation is essential, ”said Nicolas Hyett, equity analyst at Hargreaves Lansdown

The FTSE 100 index was part of a European-wide stock sell-off at the start of Wednesday’s trading, triggered by a global upsurge in coronavirus (COVID-19) cases

The markedly lower opening followed another shaky day for Wall Street, which appears to be suffering from pre-election nerves

At home, Prime Minister Boris Johnson is said to be under pressure to sign a new national lockdown to at least partially mitigate the impact of a deadly second wave of COVID-19 in winter

In France, Emmanuel Macron could place his citizens under house arrest in the next 24 hours

British Land (LON: BLND) and Land Securities (LON: LAND), owners of some of the UK’s major office buildings, each lost 6% as the economic realities of a return to work from home were starting to eat away at the feeling

Rolls Royce (LON: RR) shares slumped two-thirds in value as shares issued under its heavily discounted £ 2bn rights issue began trading on the LSE

Next (LON: NXT) was one of the top four early risers, as it resisted the market’s tendency to advance by less than a percentage point after the retailer raised its earnings forecast after have recorded better-than-expected third quarter sales

« Christmas is not yet early for Next, but signs are bright ahead of the big retail season, » Richard Hunter, Head of Markets at Interactive Investor

« The highlights of the update are undoubtedly the revisions to net debt and, in particular, the estimate of the projected profit »

Chariot Oil & Gas Limited (LON: CHAR) has revealed that it has received representations from two parties interested in debt financing for the development of the Anchovy gas discovery, offshore Morocco The Africa Finance Corporation, a pan-African financial institution, threw its hat in the ring, saying it would be interested in funding the development of the Anchovy discovery and future discoveries within the offshore license Lixus Chariot said it also received a demonstration of non-binding interest in granting reserve-based loans for the development of Anchovy discovery from an anonymous multinational investment bank

Sensyne Health PLC (LON: SENS) said it has expanded its relationship with Microsoft to become a strategic partner with the US software giant, the couple working together on clinical AI and healthcare cloud technologies from the first In practice, the enhanced link is expected to deliver the latest cloud-first healthcare systems and cutting-edge predictive machine learning algorithms With Microsoft’s help, Sensyne has declared its goal of creating « highly configurable » healthcare technologies that are globally deployable and able to meet local, clinical and regulatory needs

Itaconix PLC (LON: ITX) said the first half of the year saw the company’s proprietary sustainable chemicals increasingly used by big brands in everyday products The specialist in sustainable specialty polymers saw revenues in the six months to the end of June 2020 soar 80% to US $ 1 million from US $ 604,000 in the first half of 2019 Revenue acceleration is a result of Continuous expansion of customer base and advancement of customer projects in key business application areas, Itaconix said

Franchise Brands PLC (LON: FRAN) said it was confident to meet current market expectations for the current year as the group noted a « steady upturn in trading » in the third quarter after a second quarter impacted by foreclosure measures In a business update for the three months leading up to September 30, 2020, the owner of the multi-brand business said its B2B division, which includes its portfolio of drainage, plumbing and Metro Rod pumps, Metro Plumb, Willow Pumps and Kemac, said sales grew an average of 8% per month from June, as the UK economy emerged from lockdown, and in September, system sales were 9 % higher than a year ago As a result, the division’s sales in the third quarter were only 6% year-over-year, compared to a 30% decline for the division at its peak blockage in April and May

Red Rock Resources PLC (LON: RR) has taken note of the announcements of Jupiter Mines Ltd (ASX: JMS), in which it holds an investment, its half-year results and its dividend, as well as the planned spin-off, distribution of cash and IPO of its iron ore assets In a statement, Red Rock Chairman Andrew Bell commented: « Red Rock welcomes the planned split of the ore assets of Jupiter’s iron and receive its share of the cash distribution of NewCo shares As the holder of a royalty on Jupiter’s Mt Ida iron ore asset, Red Rock would be one of the primary beneficiaries of any success for NewCo in developing this resource. Following the recent appreciation of the company’s stake in Power Metal Resources PLC, the company’s listed holdings, which include the stake in Jupiter, have a current value of around £ 275 mln « 

Savannah Resources PLC (LON: SAV), which is developing Europe’s first lithium mine, said it was encouraged by the increased attention given to the environment by governments Company chairman Matthew King , drew attention to a growing number of governments prioritizing ‘green’ investment as a key part of economic recovery plans « We believe that Savannah, through its ownership of Mina do Barroso is uniquely positioned to play an important role in these initiatives as the foundation for a new European industry, » King said in the company’s earnings statement covering the first semester 2020

Oncimmune Holdings PLC (LON: ONC) said its EarlyCDT lung blood test will be part of a large-scale study in the United States to assess its potential use in screening people with low-to-risk lung nodules. moderate Marketed in the United States under the name Nodify CDT, Oncimmune technology is used alongside Nodify XL2 in the clinical evaluation carried out by partner Biodesix The ALTITUDE trial will recruit a total of 2000 people, with the first batch of 500 be recruited in the first phase

NextEnergy Solar Fund Limited (LON: NESF), the solar energy investment company, said electricity production in the six months ending September 2020 has far exceeded expectations. NESF’s solar portfolio was 111% above budget (2019: 50%) while irradiation exceeded expectations by 108% (2019: 48%) The fund also reaffirmed its annual dividend target of 705p for the year ended March 31, 2021 (2019: 687p)

Zoetic International PLC (LON: ZOE) said it has received a large order under one of its existing contracts to roll out the stock of its Chill line of cannabidiol (CBD) tobacco substitutes in a number of convenience stores across the United States In a business update ahead of its annual general meeting later today, the CBD company said the order was the latest demonstration of the appeal of its Chill brand and « marks the ‘Rubicon’s shift’ to full commercialization. After what she called « excellent consumer feedback » during the beta phase

Impax Asset Management Group PLC (LON: IPX) has announced that its subsidiary, Impax Asset Management Limited (IAM) and BNP Paribas Asset Management Holding (BNPP) have agreed to update the agreements under which BNPP and its companies affiliates provide marketing, introductory and other distribution services for IAM The new arrangements are outlined in a distribution agreement, which will run for a minimum of four years, and which replaces a previous Memorandum of Understanding (MoU) between the parties that was in in place since 2007, with subsequent modificationsImpax Asset Management said there has been no material change in the fees defined in the distribution agreement compared to those defined in the MoU

Chaarat Gold PLC (LON: CGH) said it was shifting focus to meet its production target this year due to fighting in Nagorno-Karabakh, 150 kilometers from its Kapan gold mine in Armenia Artem Volynets, managing director of Chaarat, said that in anticipation of possible operational disruptions during this quarter, he is targeting the higher grade ore at Kapan to offset the potential drop in plant capacity and for s  » ensure that the forecasts for the full year are respected In a statement, Volynets added: « The ongoing COVID-19 pandemic and events in our countries of operation presented unprecedented challenges for Chaarat during this quarter. »

ANGLE PLC (LON: AG) (OTCQX: ANPCY) revealed after the close on Tuesday that it had succeeded in raising gross proceeds of £ 19.6 mln via a conditional equity placement to propel the company firmly into the commercial phase of its development The group said 42,608,695 shares had been placed at a price of 46 pence each to new and existing investors ANGLE shares closed trading Tuesday at 48.50 p.m. In a statement announcing the results of the placement, ANGLE Founder and CEO Andrew Newland said: “We are grateful for the strong support from existing and new shareholders. In addition to strengthening the company’s balance sheet, the proceeds from the placement will allow us to advance the commercialization of our Parsortix system as it is undergoing substantive review with the FDA.

i3 Energy PLC (LON: I3E), an independent oil and gas company with assets and operations in the UK and Canada, noted that Toscana Energy Income Corporation (TSX: TEI) announced on Tuesday that it had obtained a final order from the Court of Queen’s Bench of Alberta approving the acquisition of Toscana by i3 Energy, as previously announced on June 23, 2020 In addition, Toscana held its annual and special meeting of Toscana shareholders in Calgary on Tuesday, in Alberta, where the Arrangement was approved by the shareholders Closing of the agreement is conditional on the approval of i3 shareholders which is requested at the i3 general meeting to be held at 10 a.m.12:00 am on October 29, 2020

Power Metal Resources PLC (LON: POW), the AIM-listed metals exploration and development company, said it has received notice to exercise warrants on 2,878,800 new 01 pence ordinary shares each in the company at an exercise price of 10p each and subscription monies of £ 28,788 have been received by Power Metal in respect of these exercises

Bezant Resources PLC (LON: BZT), the copper-gold exploration and development company, announced that by virtue of an exercise of warrants at a price of 016 pence per share under the fundraising announced on June 19, 2020, it issues a total of 93,750,000 fully paid ordinary shares of 0002p each in the company

Remote Monitored Systems PLC (LON: RMS) said it has received notification to exercise an additional 22,000,000 warrants at an exercise price of 05p each The consideration received by the company will be £ 110,000

Pan African Resources plc (LON: PAF) (JSE: PAN) has stated that its 2020 Annual General Meeting (AGM) will be held electronically on Thursday, November 26, 2020 at 11 a.m.12am UK time

Litigation Capital Management Limited (LON: LIT), an alternative asset manager specializing in international litigation financing solutions, has announced that its Annual General Meeting (AGM) for the year ending June 30 2020, will be held in Sydney on November 19, 2020, at 900h AEDT (1000h GMT on November 18, 2020) Shareholders can access the virtual AGM using the following link: https: // agmlivelien / LCA20 The company invites shareholders to submit questions prior to the AGM by emailing them to [email protected] Questions should be submitted by 10:00 GMT on November 12, 2020

Tiziana Life Sciences PLC (NASDAQ: TLSA) (LON: TILS), a biotechnology company specializing in innovative therapies for oncology, inflammation and infectious diseases, on Tuesday confirmed the timing of the split of its Accustem Sciences Limited activity for holders of the company’s American Depositary Receipts (ADRs), with the completion of the demerger scheduled for October 30, 2020 and the registration date for ADR holders set for November 6, 2020 In a separate statement on Wednesday, Tiziana also revealed that she had allotted and issued 344,063 ordinary shares of 3p each credited as fully paid at prices between 66p and 80p per share on exercise of 344,063 warrants, or £ 234,300 in cash for the company

The FTSE 100 is expected to open in negative territory on Wednesday as the decline in global markets and concerns over rising coronavirus (COVID-19) cases in several countries weaken investor sentiment in London again

Better Allocation IG expects the UK’s blue chip index to open around 25 points lower after finishing Tuesday’s session down 63 points to 5,729

Footsie’s expected weak departure follows a mixed session on Wall Street on Tuesday as pandemic nervousness and the end of any hope of a US government stimulus ahead of next week’s election weakened confidence

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The Dow Jones Industrial Average closed 08% at 27,463 on Tuesday, while the S&P 500 fell 03% to 3,390 The only positive player was the Nasdaq Composite, which managed to end the session up to 06% at 11431

Asian markets were also mixed on Wednesday morning after Wall Street’s performance, with Japan’s Nikkei 225 losing 029% while Hong Kong’s Hang Seng climbed 018%

In currency markets, the pound rose 013% to US $ 1306 against the dollar, ongoing Brexit talks between the UK and the EU will likely continue to be a key catalyst for the move as the two sides try to strike a trade deal by mid-November

Asia-Pacific stocks were mixed on Wednesday as COVID-19 cases continue to rise in the United States and Europe

Chinese shares were higher in the afternoon, with the Shanghai composite rising 066% as the Hong Kong Hang Seng index held steady

Australia’s S&P / ASX 200 (INDEXASX: XJO) recovered from its early losses by rising 011% as the country’s headline consumer price index (CPI) rose 16% in the quarter of September vs. previous quarter The gain for the September quarter follows a record 19% drop in the June 2020 quarter

Alta Zinc Ltd (ASX: AZI) says the latest fieldwork from the Punta Corna polymetallic project in northern Italy « has the potential to be scaled up » as it is open in all directions, including vertically

Alkane Resources Ltd (ASX: ALK) has received high grade gold results from infill drilling at the Roswell deposit as part of the Tomingley gold project in west central New South Wales, which will be part of ‘a resource update scheduled for next month

Andromeda Metals Ltd (ASX: DNA) and Minotaur Exploration Ltd (ASX: MEP) Research and Commercialization of Natural Nanotech Pty Ltd (NNT) JV has made a technological breakthrough by producing nanocarbon (fullerene) based materials halloysite from Great White Project halloysite-kaolin

GTI Resources Ltd (ASX: GTI) has completed the acquisition of two mining leases from Anfield Energy Inc in Utah, United States, which hold great promise for uranium and vanadium with work on field in progress to determine priority drilling targets in the extended project area

K2fly Limited (ASX: K2F) has signed a share sale agreement to acquire Sateva Pty Ltd and Sateva Development Pty Ltd to strengthen its technical assurance suite of software solutions that cater to global mining companies from level 1 and level 2

Tietto Minerals Ltd (ASX: TIE) has received approval from the Ministry of Environment and Sustainable Development of Côte d’Ivoire for the Environmental and Social Impact Assessment (ESIA) for its 3 Abujar Gold Project in 02 million ounces

Lithium Australia NL (ASX: LIT) (OTCMKTS: LMMFF) (FRA: 3MW) has received notice of acceptance from the US Patent and Trademark Office for its SiLeach® patent application US 16/076643, which has been filed in August 2018

Twenty Seven Co Ltd (ASX: TSC) has completed the acquisition of 100% of the shares of Oz Gold Group Pty Ltd following the Binding Term Sheet (BTS) announced on September 11, 2020

ioneer Ltd (ASX: INR) (OTCMKTS: GSCCF) (FRA: 4G1) has signed a partnership with Caterpillar Inc (NYSE: CAT) (FRA: CAT1) as exclusive heavy equipment partner for the Rhyolite Ridge Lithium-Boron Project in Nevada

The strong results of Kin Mining NL (ASX: KIN) (FRA: 8KM) from aerodynamic drilling extended the length of the gold direction of Collymore to more than 12 kilometers, further enhancing the growth potential of the project Cardinia gold mine near Leonora in Western Australia

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Arthur Millholland of Canadian Overseas Petroleum Limited (LON: COPL) catches up with Proactive London

He explains the background behind the deadline for extending the settlement date of the agreement between its 50% Shorecan joint venture and Essar Mauritius

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