MARKETS LIVE: FTSE rallies after more stimulus measures revealed;

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MARKETS LIVE: FTSE rallies after more stimulus measures revealed around the world; Airlines slash capacity; M&S warns of severe hit; Sports Direct owner warns on profits

By This Is Money

Published: | Updated:

Shares are enjoying some much-needed gains today as investors took solace in a blockbuster series of government and central bank measures aimed at cushioning the economic blow from the coronavirus. 

Airlines around the world have announced major changes to deal with the huge drop in customers. British Airways’ pilots are getting two weeks unpaid leave, Tui employees’ pay is being halved and American Airlines is grounding 55,000 flights. 

British retailer Marks & Spencer said trading over the next 9-12 months in its clothing and homewares and international businesses was likely to be ‘severely impacted’ by Covid-19. 

Holiday Inn owner IHG has said that demand for its hotels was currently at the lowest levels it had ever seen, announcing a series of measures to cut costs and ride out the worldwide shutdowns and travel restrictions caused by the coronavirus.

 

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