FTSE takes a breath after record-breaking week for UK and US stock markets

The Market Report with Katie Pilbeam. FTSE 100 eased back as investors waited on US inflation numbers and reflected on a record-breaking week for stock markets in the UK and the States. London’s blue-chip index dropped 12 to 6,929.

Hope for the travel industry after transport secretary Grant Shapps told Sky News that the government is trying to make foreign travel as affordable as possible amid criticism that a testing requirement is too expensive and will drive up holiday costs. But the government has also refused to confirm whether foreign holidays will be permitted from 17 May.

 has issued a new £500mln convertible bond to refinance the acquisition of Topshop brands it bought in February. The influx of new cash will also provide “additional flexibility to continue to invest behind its global growth strategy”.

Rival boohoo () meanwhile has taken out a long-term lease for a new warehouse in Daventry, England. The deal is expected to secure up to 500 jobs when the plant becomes operational, with up to a further 1,000 more as capacity increases.

Tour operator  () is tapping the debt market for a further €350- €400mln to see it through the latest phase of the global pandemic. The proceeds will also be used for the repayment of existing financing instruments, investors were told.

Among the small caps, () has launched its Disease in Motion platform, which contains data from multiple infectious diseases. The pharma company reckons it will be used by big tech, wearables, pharma and biotech companies.  

() posted an improved performance in its first quarter, with US$5mln of additional inflows. The Black Oak Alpha Growth Fund has achieved a net return of 15.65% since it was established in 2019.  

Next Fifteen Communications PLC () has acquired data-led business Shopper Media Group (SMG) for £15.7mln in cash and shares. SMG connects retailers and brands with shoppers at the point of purchase both online and in-store.