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Market Report: FTSE falls in the red as new proposed quarantine rules rattle market

FTSE 100 dropped in early trading as travel stocks suffered in the wake of proposed new quarantine rules. British Airways owner IAG led the fallers as London’s blue-chip index dropped 6 to 6,689.

Boohoo Group PLC (LON:BOO) has bought the brand of Debenhams out of administration. The AIM-listed online fashion retailer is paying £55mln but not acquiring any stores or stock.

ASOS PLC (LON:ASC) meanwhile is in exclusive discussions with the administrators of Arcadia over the acquisition of the Topshop, Topman, Miss Selfridge and HIIT brands. AIM’s other big name online retailer said the deal represents “a compelling opportunity to acquire strong brands”.

First-time buyers are having to find an extra £10,000 more for a house deposit than last year said the Halifax. The average is now around £57,000 and a whopping £130,000 in London.

Synairgen PLC (LON:SNG) has said its inhaled interferon beta-1a respiratory treatment has been included in a US government-sponsored coronavirus clinical trial. The drug discovery and development specialist said researchers will assess SNG001’s potential to help COVID-19 patients not yet requiring hospitalisation.

Among the small caps, AdEPT Technology Group PLC (LON:ADT) is to roll out online education services as part of a collaboration with Google and Microsoft. The IT provider has worked with over 500 schools to set up a digital platform.

Inspiration Healthcare Group plc (LON:IHC) upgraded its profit and revenues expectations for the full year. SLE, a manufacturer of ventilators for neonatal intensive care acquired in July, is going well and has boosted the overall performance.

Quick facts: Boohoo Group PLC

Price: 339.6 GBX

AIM:BOO
Market: AIM
Market Cap: £4.28 billion
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