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FTSE positive while Bitcoin and crypto coins fall after China announced crackdown

The Market Report with Katie Pilbeam. 

FTSE 100 started the week on the front foot mirroring positive performances in Asia, although there are still concerns over a US inflationary spike.  London’s leading index added 22 points to 7,040 in early trading. 

Bitcoin and Ethereum suffered sharp drops overnight after Chinese crypto exchange Huobi scaled back some services. Chinese regulators are clamping down crypto activities, which is hitting the global sector. 

Cineworld PLC () has reported a bumper reopening weekend in the UK. Poland and Israel reopen this week with the cinema operator anticipating most sites will be open by the end of the month.

() completed its long-delayed third spaceflight over the weekend. There are just two regulatory hurdles ahead before it can begin carrying paying passengers into space. 

() said lab tests of its inhaled interferon beta, which is being developed to treat people with severe effects of Covid, has shown “potent antiviral activity” against two new variants. The lab tests also demonstrated the “broad-spectrum antiviral activity”, which bodes well for its use across a number of respiratory viruses.

() has signed a strategic research agreement with the Colorado Center for Personalized Medicine (CCPM). It is the second strategic research agreement in the USA signed by Sensyne, which uses artificial intelligence (AI) technology to support medical research. 

Prince William was given a masterclass in electric racing at Knockhill Racing Circuit over the weekend, driving a car powered by hydrogen fuel cell technology produced by (). The test drive at the Extreme E event was organised ahead of COP 26 climate summit in Glasgow.

Read More: FTSE positive while Bitcoin and crypto coins fall after China announced crackdown

2021-05-24 04:27:00

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