FTSE’s glass is half empty despite prospect of pint as pub gardens open gates

FTSE 100 opened lower on fretting about inflation and the US$2.8bn fine for Alibaba from China anti-monopoly regulator. The prospect of a drink outside of the house for the first time in months did little to lift the mood and London’s main index shed 11 points to 6,904.

Today marks the UK’s first day of reopening for non-essential retailers, hairdressers and gyms, alongside pubs and restaurants for outdoor service. Prime Minister Boris Johnson urged people to “behave responsibly” and respect safety measures.

Landlord PLC () confirmed it is in discussions to sell its retail parks portfolio to Canadian private equity firm Brookfield. The price tag would be £350mln according to weekend reports.

Heathrow Airport has posted an 83% drop in passenger numbers for last month compared to March 2020. Cargo movements, in contrast, increased by 21%.

 (LON:TXP, ) shares advanced more than 20% after the company told investors that flowback testing of the Cascadura Deep-1 well, in Trinidad, confirmed a ‘liquids rich’ discovery. The company owns an 80% stake in the well.

 () inked a worldwide licensing deal with international drugs giant Sanofi worth up to €414mln for its oral IL-17A inhibitor programme. The group will receive €7mln upfront, plus €11mln in pre-clinical payments.

 (LON:88E, ) reported further evidence of oil in the Merlin-1 well, in Alaska. Samples taken from sidewall cores showed fluorescence and ‘cut’ which are both indicators of oil. They were present in samples taken from several horizons.