UK economy fell 1.5% in first quarter despite lockdowns, but March bloomed 2.1%

FTSE 100 recovered some of yesterday’s lost ground after latest UK GDP data came in ahead of expectations. London’s leading index rose 51 points to 6,999 in early trading.

The UK economy shrank 1.5% in the first quarter, though it rebounded 2.1% in March thanks to the reopening of schools and better retail sales. Analysts expect the GDP to continue growing as restrictions ease.

() posted a near €1.5bn loss in its latest half-year as revenues dropped 89%. The travel group said summer prices are climbing already as holidaymakers start booking trips again.

PLC () has agreed on a £2.6bn cash offer by private equity firm Clayton, Dubilier & Rice. Directors unanimously voted in favour and recommend shareholders approve the deal.

() has started the eagerly awaited underground access decline at its Havieron gold-copper joint venture project in Western Australia. “This is a momentous step in the development of Havieron as a world-class gold-copper mine,” said Greatland chief executive Shaun Day.

() Minto mine has had its estimated mine life doubled in a new technical study. The expected life in now 8 years to 2028.

() has signed a ‘milestone agreement’ with US giant Corteva Agrisciences for its seed treatment application. The deal covers exclusive commercialisation, supply and distribution rights in the EU, UK and Serbia.