- The FTSE 100 recovered some ground by lunchtime on Monday to trade back above the 6,000 mark, though there is still plenty of nervousness around about a second wave in the coronavirus pandemic after China saw a spike in infections.

By midday the index of leading UK shares was down 1.1% at 6,038.21.

Futures markets were pointing to a 2%-plus fall for the S&P 500 index when trading resumes on Wall Street this afternoon.

BP slipped 3.9% to 310.6p after it said it expected to post impairment charges and write-offs for the three months through June of between $13bn and $17.5bn post tax.

Word of the huge writedown came as the company downgraded its long-term oil price forecasts amid a prediction the Covid-19 crisis would have a 'sustained' impact on demand.

Cinema company Cineworld rose 1.9% to 78.1p on announcing that it had walked away from plans to acquire Canada's Cineplex for $2.3bn, claiming that the latter had breached terms of the deal.

AstraZeneca gained 1.8% to £83.48 as it agreed with Europe's Inclusive Vaccines Alliance to supply up to 400m doses of the University of Oxford's Covid-19 vaccine, with deliveries starting by the end of 2020.

Distribution and outsourcing company Bunzl rallied 7.9% to £20.32, having forecast revenue for the six months through June to rise 6%, thanks to demand in the grocery and cleaning sectors.

Iron ore pellet producer Ferrexpo slipped 3.7% to 185.4p, even as it announced an interim 2020 dividend of 6.6 US cents per share as sales rose in the first five months of the year.

Challenger bank Metro Bank fell 4.5% to 100.2p as it confirmed press speculation that it was in talks to acquire UK focused peer-to-peer lender Retail Money Market, which trades as RateSetter.

Specialist recruitment business SThree reversed 1.9% to 265p on announcing that said its net fee revenue slumped 7% in the first half.

Pharmaceutical services company Open Orphan gained 2.7% to 12.5p on the publication in The Lancet of positive results for a trial of a 'saliva vaccine' to protect against mosquito borne diseases such as zika, malaria and dengue fever.

Investment company Scottish Investment Trust ticked up 0.7% to 715p, even as it declared a quarterly dividend of 5.7p per share, despite having posted a negative first-half performance.

Midlands-focused property investor Real Estate Investors dropped 1.5% to 32p as it declared a lower first-quarter dividend, citing uncertainty created by the Covid-19 crisis.

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