The FTSE 100 closed up 36.74 points at 6881.13 and the pound was at $1.36 against the dollar.
Low-cost airline EasyJet expects to fly up to 60 per cent of its pre-pandemic flight programme over the summer quarter, up from 17 per cent in the previous three months, thanks to easing travel restrictions.
Bitcoin has seen its value decline by over 5.5 per cent in the last 24 hours to under $30,000, its lowest level since June 22. The price of other cryptocurrencies such as Ethereum and Dogecoin also took a tumble.
Private equity firm Apollo Global Management announced that it will not make a takeover bid for grocer Morrisons, but is considering teaming up with rival Fortress Investment Group to become part of its consortium to buy the supermarket.
Drinks mixer business Fever-Tree said its profits are taking a hit from the ongoing rising costs of logistics arising from the Covid-19 pandemic and a shortage of HGV drivers, though half-year sales were still up 36 per cent to £141.8million.
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Rebound: EasyJet expects to fly up to 60 per cent of its pre-pandemic flight programme over the summer quarter compared to 17 per cent last year
Tanya Jefferies
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Harry Wise
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Auto-update 17:05 FTSE 100 closes up 36.74 points at 6881.13 16:33 Robinhood pursues $35bn valuation in stock market debut
Online trading platform Robinhood is hoping to be valued at up to $35billion when it floats on the Nasdaq Stock Exchange.
In an updated prospectus yesterday, the group revealed that it intends to raise about $2.3billion from offering 55 million shares at between $38 to $42 each to investors in what is set to be one of the most hotly-anticipated listings this year.
Robinhood pursues $35bn valuation in stock market debut In an updated prospectus yesterday, the group revealed that it intends to raise about $2.3billion from offering 55 million shares at between $38 to $42 each to investors. 
This is Money 16:26 The Footsie closes soon
Just before close, the FTSE 100 was up 0.76 per cent to 6,896.20.
Meanwhile, the FTSE 250 was up by 0.96% to 22,152.54.
16:10 ‘Reopening stocks are likely to be at the forefront of recent volatility’
Joshua Mahony, Senior Market Analyst at IG, comments on the markets today:
The recent UK market volatility has seen reopening stocks swing between outperformers and underperformers as investor sentiment shifts on a daily basis. Despite fears that the Delta variant could undermine travel and consumer activity, today’s gains for the likes of Rolls-Royce, Hammerson, and Cineworld highlight how reopening stocks are likely to be at the forefront of recent volatility.
Housebuilders has been one sector in favour today, with the fall in treasury yields highlighting how many perceive this recent rise in Covid cases as lessening the risk of inflation-led monetary tightening.
15:38 US: Taco Bell hit by ingredient shortages amid supply constraints
Taco Bell customers may be left hungry if they visit the chain any time soon amid a nationwide ingredient shortage.
The pandemic, which forced many factories to close, limited temporary visas for workers on farms and slowed transportation, has resulted in food shortages across the US as the food industry struggles to keep up with newly reopened restaurants, sports arenas and food halls.
Taco Bell hit by ingredient shortages amid supply constraints Taco Bell announced that it was facing an ingredient shortage as the US food industry is hit with supply constraints and increased prices amid pent up demand, and struggling suppliers. Mail Online 14:57 (PA) – British Gas dispute ends as workers accept improved pay deal
A long-running dispute at British Gas has ended after workers accepted an improved pay deal, their union has announced.
The GMB declared an end to the so-called fire and rehire dispute after their members backed an agreement by three to one. Around 7,000 British Gas engineers staged 44 days of strike action stretching over several months.
The GMB said that, after “gruelling“ negotiations, a new deal offers improvements to overtime rates and unsocial hours payments, places limits on the amount of unsocial working undertaken, reverses the decision to close the defined benefit pension scheme to new starters and opens the door for those who left the business to return.
Andy Prendergast, GMB national officer said: GMB Union will never forget British Gas’s unnecessary and cavalier actions over the past six months, but this new agreement does provide a way forward.
We have listened to what our members wanted and have been able to deliver the improvements necessary to bring this dispute to an end.
14:21 British families will see extra £160 slapped on annual shopping bill
British families will see an extra £160 slapped on their annual shopping bill due to Boris Johnson’s crackdown on obesity and plastic waste, a report has warned.
The Food and Drink Federation (FDF) said food firms face £8.3billion in extra costs over the next three years as a result of schemes aimed at slimming the country’s waistline and making the UK more sustainable.
British families will see extra £160 slapped on annual shopping bill The Food and Drink Federation (FDF) claimed the poorest Britons will be worst-hit by the policies, seeing the price of their yearly food bills rise by 11 per cent. Mail Online 13:42 Proud Group club owner slams vaccine passports
Club owner Alex Proud tells Julia vaccine passports are a “very dangerous step” to take.”I employ 200 people and did some simple maths that is beyond Boris Johnson to work out all my staff would have Covid by September, so we'll have herd immunity.”@JuliaHB1 | @AlexanderProud pic.twitter.com/5noTC2cSeo
— talkRADIO (@talkRADIO) July 20, 2021 12:54 Apollo pulls out of solo bid for Morrisons
Apollo Global Management has said it will not make a takeover bid for Morrisons but could join the consortium whose £6.3billion offer for the grocer was accepted earlier this month.
The private equity giant announced that it was in ‘preliminary discussions’ with Fortress Investment Group in a move that might temper a potential bidding war between rival investment firms for the supermarket chain.
Apollo pulls out of solo bid for Morrisons Morrisons’ first buyout offer this year came from New York-based Clayton, Dubillier & Rice (CD&R) in June, but it rejected the £5.5billion deal over concerns the bid was too low. This is Money 12:25 Care home provider Anchor Hanover issues £350m sustainability bond
Anchor Hanover, Britain’s biggest retirement home company, has raised £350million through its first sustainability bond as part of a wider refinancing.
Social infrastructure, particularly care homes, have been thrust into the spotlight during the pandemic and more and more people are looking at ways to invest.
Care home provider Anchor Hanover issues £350m sustainability bond ‘We have ambitious plans to meet the increasing needs of older people in a sustainable way,’ chief financial officer Sarah Jones said. This is Money 11:52 Israel warns of ‘severe consequences’ against Ben & Jerry’s
Israel has warned of ‘severe consequences’ against Unilever after its subsidiary Ben & Jerry’s announced it will stop selling its ice cream in the Israeli-occupied West Bank and east Jerusalem.
The ice cream brand said yesterday the sale of its products in the territories sought by the Palestinians are ‘inconsistent with our values’.
Israel warns of ‘severe consequences’ against Ben & Jerry’s The ice cream brand said yesterday the sale of its products in the territories sought by the Palestinians are ‘inconsistent with our values’. Mail Online 11:13 Government to make fake reviews illegal under new plans
New plans to stamp out subscription traps and fake reviews have been unveiled by the Government.
Under the proposals, it will become illegal to pay someone to write, or host, writing bogus online ratings.
Government to make fake reviews illegal under new plans New plans to stamp out subscription traps and fake reviews have been unveiled by the Government as it looks to stamp out consumer rip-offs. This is Money 10:50 Audioboom’s first-half revenues rise to record $22.8m
Podcast platform Audioboom has said its revenues in the first half of the financial year jumped by 93 per cent to a record $22.8million while it made an underlying pre-tax profit of $0.2million compared to a $1.2million loss the year before:
Stuart Last, CEO of Audioboom, remarked: After a breakthrough first quarter of 2021 in which the Company reported a maiden adjusted EBITDA profit, the story of the second quarter is of accelerated revenue and EBITDA growth as our content-focused expansion strategy delivered increased value to the business.
We have made a strong impact on the industry and podcast audiences during this period through our Audioboom Originals Network launches, which has increased our standing in the industry as podcast creators. Dark History, RELAX!, The Southern Tea and Dark Air with Terry Carnation have all been commercial successes, with Dark History leading the charge as it hit number 1 on both the Apple and Spotify charts globally in June 2021.
The financial progress Audioboom has made will enable us to further invest in key areas of the business as we move into the second half of 2021. Expansion of our podcast production operation and the development of new advertising technologies are priorities, and we anticipate that both will deliver further growth opportunities for the remainder of this year and beyond.
10:45 EasyJet increases flights to 60 per cent of pre-Covid levels
EasyJet is increasing flights to around 60 per cent of its pre-pandemic programme with more services to so-called amber list destinations over the summer quarter amid easing travel restrictions and rising demand.
It said the reopening of travel in Continental Europe and easing of restrictions for the fully vaccinated in the UK will drive a marked rebound in demand in its fourth quarter to September 30.
EasyJet increases flights to 60 per cent of pre-Covid levels EasyJet said the reopening of travel in Europe and easing of restrictions for the fully vaccinated in the UK will drive a marked rebound in demand in its fourth quarter to September 30. Mail Online 10:23 Just Eat Takeaway shares fall more than 2.5% 
10:22 The FTSE recovers after bad Monday 
09:45 Covid UK: Nightclub bosses blast plan for compulsory vaccine passports
Furious hospitality chiefs have slammed Prime Minister Boris Johnson’s plans to make vaccine passports compulsory in nightclubs and other ‘crowded’ venues from September as England’s so-called ‘Freedom Day’ descended into an ‘absolute shambles’.
At a Downing Street press conference last night, Mr Johnson – who is self-isolating in Chequers after he was ‘pinged’ by the NHS Covid app – said that proof of double-vaccination will be a ‘condition of entry’ at clubs just hours after they reopened for the first time in 16 months.
Covid UK: Nightclub bosses blast plan for compulsory vaccine passports In a major U-turn at a Downing Street press conference last night, Prime Minister Boris Johnson announced that proof of double-vaccination will be a ‘condition of entry’ at clubs. Mail Online 09:22 Apollo’s latest approach ‘takes the heat out of a potential bidding war’
Sophie Lund-Yates, senior equity analyst at Hargreaves Lansdown, comments on Apollo potentially teaming up with Fortress to take over Morrisons:
Apollo is laying down its weapons and potentially joining forces with the Fortress-led syndicate. From a shareholder perspective this is disappointing, because it takes the heat out of a potential bidding war, meaning the cash offer already on the table is less likely to get pushed upwards. Fortress’ assessment of Morrisons valued the grocer at around £6.3bn, and represented a 42% premium to the share price before deal making began.
If Apollo can get in on the deal at the current lower price, why wouldn’t it? Increasing private equity activity in London in recent months means there could be other raised arms in the bidding hall, but for now, Morrisons is back to courting a single suitor.
09:05 Holiday lettings boss warns NHS app could ruin staycations
The ‘pingdemic’ is now set to ruin staycations for thousands of families just 48 hours before the school holidays start, a holiday lettings boss warned today – as one in five parents said they would be prepared to take their children out of the classroom to avoid ruining summer
Kate Allen, owner of the luxury holiday lettings business Salcombe Finest, warned that with coastal hospitality businesses making up to 80% of their annual turnover in the next six week, failing to abolish the app would be a death blow to the industry.
Holiday lettings boss warns NHS app could ruin staycations Kate Allen, owner of the luxury holiday lettings business Salcombe Finest, warned that failing to abolish the app would be a death blow to the holiday industry. Mail Online 08:49 ‘Undoubtedly, it is not a good time to be an airline’
Julie Palmer, partner at Begbies Traynor, comments on EasyJet growing its summer capacity to 60 per cent of pre-pandemic levels:
EasyJet, and the entire commercial airline sector, was always going to be reliant on outside forces to deliver good, or at least improving, results in the pandemic. However, the will of holidaymakers to travel is not matched by their ability to travel, with restrictions on international travel still remaining and warnings of more countries being placed on the ‘amber plus’ list being fed into the public domain.
Undoubtedly, it is not a good time to be an airline. No matter how many precautions are taken or investments in capacity and safety are made – with the price of the necessary PCR test falling – there are so many factors it cannot influence. The industry is being left waiting for the storm to clear so it can take off, but it doesn’t have the luxury of a weather report to give it insight as to when it will end and what’s coming next.
08:28 Transport minister hints electric car grant will be scrapped entirely
Rachel Maclean, Minister for the Future of Transport and Decarbonisation, has dropped a fresh hint that the Government intents to scrap grants to help drivers buy expensive electric vehicles.
With the ban on sales of new petrol and diesel cars just eight-and-a-half years away, driver purchases are soon to be limited to battery-powered models only.
Transport minister hints electric car grant will be scrapped entirely The Government in March slashed the Plug-in Car Grant, reducing both the subsidy amount by £500 to £2,500 and eligibility for models up to £35,000. The move was lambasted by industry insiders. This is Money 08:22 MPs raise alarm as Chinese private equity sets its sights on UK tech
Chinese private equity companies are increasingly mounting takeover bids for star British technology companies, MPs have warned.
Their warnings come at a time of mounting disquiet over China’s ambitions and its takeovers of UK firms, including the near £1billion swoop yesterday by technology conglomerate Tencent on games developer Sumo Group.
MPs raise alarm as Chinese private equity sets its sights on UK tech Buyout firms with links to Beijing have been quietly swooping on a string of science, technology and engineering firms. MPs claim some of the firms effectively act as proxies for China. This is Money 08:16 Fears over the Delta Covid variant see £54bn wiped off the FTSE100
Markets around the globe were in freefall amid mounting fears over the spread of the Delta Covid variant.
In total £54billion was wiped off the FTSE 100 as the index fell 2.3 per cent, or 163.70, points to 6844.39 by the close.
Fears over the Delta Covid variant see £54bn wiped off the FTSE100 The UK’s leading share index fell 2.3 per cent. The plunge followed steep drops overnight in Asia and in Paris and Frankfurt the Cac 40 and the Dax were both down by more than 2 per cent. This is Money 08:14 The FTSE 100 index opened at 6844.39
The pound at 8am was 1.3633 dollars compared to 1.3693 dollars at the previous close.
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