London’s FTSE 100 traded 0.22% lower at 6278.68 early on Monday as a rising number of COVID-19 cases, including in the US and China, stoked fears of a second wave of global infections.
Sportswear giant JD Sports Fashion (JD.) cheapened 3.7p to 643.3p after confirming it has filed a notice of intention to appoint administrators to its struggling Go Outdoors division with the courts, although it has not yet appointed them, and said it is considering a number of strategic options for the business.
Engineering group Goodwin (GDWN) surged 22% higher to £33.60 as it secured a long-term arrangement to manufacture and machine storage boxes to assist with nuclear waste clean-up.
The deal, which is the largest purchase agreement the group has entered into to date, is expected to result in ‘significant turnover’ for the business from the next financial year onwards.
Over-50s products and services provider Saga (SAGA) rallied 5.2% to 19.4p after agreeing to a debt repayment holiday for two ship facilities up until the end of March 2021.
Saga also assured the market that its insurance business has been resilient and continues to make progress while within travel, more than 70% of cruise customers have moved their booking to later sailings, which shows ‘the continued demand for our specialist boutique offer’.
Airport services play John Menzies (MNZS) flew 15.9% higher to 166.9p on the news trading in the second quarter to date has been ahead of management’s expectations and the company has enough liquidity to support itself during the coronavirus crisis into 2021.
Spirits giant Diageo (DGE) softened 1.7% to £28.52 after it pushed back the publication date for its full year results by five days to 4 August in order give auditors more time to prepare and review statements during the coronavirus pandemic.
Cineworld (CINE) edged 0.6% higher to 77.8p after it secured a £201 million debt facility from a group of private institutional investors as it gears up to reopen cinemas following the easing of lockdowns around the world.
Baby goods purveyor Mothercare (MTC) was marked down 1.5% to 7.88p despite announcing that around two thirds of its partners’ global retail locations are now open following an easing of government lockdowns. The retailer has shortlisted chief executive candidates and remains in talks with a number of prospective debt providers.
Troubled loans business Amigo (AMGO) was friendless, the shares slumping 23% to 7.6p on the news it has continued to see a ‘substantial increase’ in the rate of costly complaints.
Clean technology minnow Verditek (VDTK:AIM) surged 15% higher to 7.63p as it received its first order in the oil and gas industry for its ultra-lightweight solar product from Pakistan’s SAF.
