Inflation fears and Heathrow Airport takes a hit after reporting £2bn annual loss

FTSE 100 headed lower in early trading as worries about inflation trumped the road to recovery outlined by Boris Johnson. London’s blue chip index shed 41 to 6,585.

No business needs a recovery more than Heathrow Airport, which reported a £2bn annual loss in 2020 as passengers fell to levels not seen in decades. The airport also warned over its future if passenger numbers do not pick up.

Lloyds Banking’s  () profits also tumbled 72% to £1.2bn in 2020 as COVID-19, bad debts and the impact of lower interest rates all took a toll. António Horta-Osório, chief executive did restore the dividend in his last results before he leaves at the end of April.

Oatly, the super trendy oat milk brand backed by the likes of Oprah Winfrey and Jay-Z is looking to float in the US with a value of US$10bn. Partnerships with  and expanding the product range into ice cream and yogurt are fuelling tis growth.

Among the small caps, ’s () Chill brand of tobacco alternatives is to be stocked by one of the largest tobacco-focused retail chains in the country. The stockist was not named.

() has begun testing the flotation pilot plant for the Songwe Hill Rare Earths project, in Malawi. The miner said it is one of the few rare earths projects that have reached this stage of development.

() () will begin trading today on the OTCQX Best Market in the US. The cryptocurrency miner was upgraded from the OTCQB Venture Market after meeting financial standards.