Official figures released this afternoon show that the UK death toll has increased by 25 in the last day bringing the total number of deaths to 43,575.

Figures released this morning show the number of COVID-19 cases in the UK rose by 815 overnight, taking the total to 311,965.

Key stories

  • The Government has announced that whole year groups will be expected to self-isolate if one student tests positive for COVID-19. Under proposals for the reopening of schools in September, schools will be allowed to reduce the number of GCSEs that are taken, as well as reteaching primary level maths and English. Government guidance on the reopening of schools is due on Thursday, and will stress the importance of tackling gaps in learning for pupils who have been out of the classroom for months.
  • Plans to open air bridges are in jeopardy after the Greek government announced that it would keep a ban on British flights in place until 15th July. Greece had been widely seen as one of the first air bridges that the Government had planned to open. The move will cause uncertainty for tour operators, who have reported a boom in demand for foreign holidays over the past few days.
  • The Mayor of Leicester has announced that the city’s pubs and restaurants may be forced to remain closed for a further two weeks. His comments came as the Prime Minister said Public Health England and local authorities had the power to impose local lockdowns. There have been 2,987 cases of Covid-19 in Leicester since the pandemic began, with 866 of those – or 29% - reported in the two weeks to 23 June.
  • Gilead has announced that it will charge governments $2,340 for a course of remdesivir, a drug which is seen as one that can help treat coronavirus. The manufacturer has decided that it will charge a flat rate to ensure that people are able to access the drug as efficiently as possible. Gilead has said it hopes that it will save hospitals on average of $12,000 a patient through the sale of the drug.

Market Update

  • Caution from Wall Street investors due to the acceleration of coronavirus infections in the US and the impact on economic recovery
  • The amount of money held by UK households and companies in bank accounts increased by £52 billion in May, data from the Bank of England shows
  • UK mortgage approvals fell to the lowest level since records began in 1997. Approvals dropped to 9,273, well below economists’ forecasts of a rise to 25,000
  • Shares in the APAC region suffered heavy losses with Japan’s benchmark Topix index 1.8% lower, Hong Kong’s Hang Seng down 1.0% and South Korea’s Kospi down 1.9%
  • The pound fell 0.7% to a three-month low against the euro as Brexit talks deepened
  • Crude oil steadied after positive economic data raised hopes of demand recovery
  • GBP/USD 1.23 -0.51%
  • Oil price (Brent) +0.85% to USD 41.37
  • Oil price (WTI) +1.51% to USD 39.07

UK market

  • The FTSE 100 closed up 1.08% at 6,225.77
  • The FTSE 250 closed up 0.50% at 17,198.66
  • The FTSE 350 closed up 0.98% at 3,478.79

US market at 1pm EST

  • The S&P 500 is up 0.96% at 3,038.61
  • Nasdaq is up 0.79% at 9,834.99
  • Dow Jones is up 1.49% at 25,388.37

FTSE 350 top performers

  • Energean +22.21% at 542.00p
  • Drax Group +14.34% at 255.20p

FTSE 350 bottom performers

  • Cineworld Group -10.55% at 57.32p
  • BMO Commercial Property Trust -8.41% at 63.20p

Company announcements and sector news

Consumer/retail

  • Byron, the burger chain, has filed a notice of intention to appoint administrators as it holds detailed talks with three potential buyers ahead of the sector’s reopening
  • 2,000 workers in two of Amazon’s fulfilment centres in Germany have gone on strike over coronavirus safety concerns

Industrials

  • BP to sell petrochemicals business to Ineos for $5bn; BP share price closed up 3.38%
  • Lufthansa will offer passengers Covid-19 tests linked to tickets in order to avoid quarantine, starting with Frankfurt airport.