FTSE recovers after China crackdown jitters, with markets elevated by travel stocks

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The FTSE 100 made a strong start of the week after a rebound of risk sentiment in the Asian markets. London’s main index surged 63 points to 7,096 in early trading.

()’s () profits more than doubled in its latest half-year thanks to an improvement in bad debts. The bank will also lift dividends as global economies emerge from the COVID-19 crisis.

() () has recommended shareholders to approve a £6.3bn takeover offer from  US firm () (). The two engineering groups both work in the UK and are defence suppliers to the UK and US governments.

Hollywood studios owner Hudson Pacific and investor Blackstone are planning a £700mln film hub in Hertfordshire. It will be operated by the Sunset Studios brand, which produced When Harry Met Sally, Zoolander and La La Land.

U.K. SPAC Plc, an AIM-listed cash shell, has inked an agreement that will see it become a European medical cannabis business. It is to acquire 100% of a cultivation company that has a partnership with soon-to-be London peer Kanabo Group.

() () meanwhile has opened its first retail store selling cannabidiol (CBD) and hemp products in St Andrews in Scotland. The company said the 655 square foot store will sell a range of CBD and hemp products.

Symphony Environmental shares soared on a distribution agreement for its anti-bacterial technology in China. Meditech will purchase trial quantities of Symphony’s d2p and d2w additives for manufacturing prototype batches of disposable gloves and also seek certification of the gloves for sale in the EU and the US under PPE, Medical Device and Food Contact regulations.

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