StockMarketWire.com - UK stocks traded sideways on Monday, recovering their earlier losses, as a rising number Covid-19 cases including in the US and China stoked fears of a second wave of global infections.

After losing 47 points or 0.8% shortly after the opening, the FTSE 100 was down just 6 points or 0.1% to 6,287 by midday as supermarket firms Morrison, Ocado and Sainsburys helped prop up the index with gains of between 3% and 5% apiece.

On the losing side, as is often the case when the market gets the jitters, were travel firms Carnival and IAG, owner of British Airways, which gave up 4% each.

Also among the losers was sportswear retailer JD Sports Fashion which slid 2.2% to 633p after announcing that it was looking at a number of 'strategic options' for camping and outdoor clothing retailer Go Outdoors.

The update came in the wake of media speculation that Go Outdoors was on the brink of administration.

Cinema group Cineworld shed 0.7% to 76.8p, even as it beefed up its credit lines by securing a $250m secured debt facility with a 2023 maturity.

Infant merchandise retailer Mothercare fell 6.4% to 7.5p despite the news that around two-thirds of its partners' global retail locations were now open following an easing of government lockdowns.

Mothercare also revealed that it had shortlisted chief executive candidates, and remained in talks with a number of prospective debt providers.

Real estate investor Segro gained 1.3% to 892p after it sold an Austrian property to to Nuveen Real Estate for €65m, marking its exit from the country's market.

AIM-listed video game developer and publisher Codemasters rose 1.5% to 336p as it reported a sharp rise in profit thanks to people entertaining themselves during lockdown.

Saga, a provider of products and services to the over-50s, rose 2.6% to 18.9p after it secured a debt repayment holiday for two cruise ship loans until the end of March 2021.

Saga said no dividends could be paid while the debt remained outstanding. The company had refunded £44m of advance receipts to customers, as cruise ships remained idled.

The day's standout performer was aviation services group John Menzies, which soared 12% to 161.5p on announcing that it had a better than hoped second quarter and had enough liquidity to see it through the end of this year and into 2021.



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