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Market Report: The FTSE sinks as tour operator TUI's revenues tank

Published: 04:45 13 Aug 2020 EDT

The FTSE has opened up this Thursday in negative territory as the reality of the economic impact of lockdown and fears of a second wave of COVID-19 infections hits home. 

The Anglo-German tour operator TUI (LON:TUI) has posted a whopping 98% drop in revenue and a €1.1bn loss for the past quarter as the full implications of the coronavirus pandemic takes its toll on the travel sector.

Elsewhere - Topps Tiles (LON:TPT) said it expects to generate a modest level of adjusted profit before tax in the year to September this year - thanks to strong home improvement and DIY demand. Like-for-like retail revenue grew 15.5% year-on-year in the first six weeks of its final quarter. 

Condor Gold (LON:CNR) says it has significantly de-risked its La India project by acquiring 85% of the land including several key areas of the project including a tailings storage facility, open pit and waste dump area. 

Directa Plus (LON:DCTA) has said the strong anti-viral properties of its graphene-enhanced coronavirus mask have been confirmed by scientists in Italy. CEO Giulio Cesareo says the company is in “early-stage’ discussions with possible commercial partners for this application.

And finally secure payment products provider Eckoh (LON:ECK) has secured a six-year contract extension worth £4mln to provide services relating to London’s congestion charge.The contract extends the existing agreement with Capita PLC (LON:CPI) and Transport for London to provide customer contact centre solutions alongside the existing secure payments service.

That’s your update - for more news - head to our website proactiveinvestors.com - as well as Twitter: @Proactive_UK

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