FTSE dives as UK government borrowing hits record level of over £19bn last month

The Market Report with Katie Pilbeam.

FTSE 100 opened lower after UK government borrowing hit a record level of £19.1bn last month as the government tries to keep the country afloat during the pandemic London’s index of big caps tumbled 33 points to 6,746 in early trading.

PLC () slumped to an interim loss after it was forced to keep its pubs shut due to COVID-19.

Chairman Tim Martin blasted the government’s measures, adding it’s impossible to predict sales amid the current uncertainty. British Airways is thinking of selling its flagship headquarters near Heathrow Airport. The cash-strapped airline plans a mix of home and office working going forward.

Luxury carmaker Lamborghini posted record profits for 2020, even though its Italian factory was closed for two months. Margins were driven by Chinese customers seeking customised models which were more expensive than the standard ones.

 () shares rocketed as it said the EU is ready to approve its key product. Once the certificate is received, Futura’s topical gel formulation MED3000 will become the first pan-European topical treatment for erectile dysfunction available without prescription.

() is to acquire a 60% stake in a royalty stream from the Thacker Pass project, the largest lithium reserve in the US. A fundraise to meet the US$28mln consideration got away at no discount suggesting investors like the deal a lot.

SDX Energy PLC () reported record production in 2020 despite the challenges and disruptions caused by Covid-19. Net production improved 57% to average 6,397 barrels per day.