Rolling coverage of the latest economic and financial news
Latest: Cineworld shares halve in value in early tradingCineworld to temporarily suspend operations in UK and US45,000 employees impactedClosures begin on ThursdayJames Bond delay was final blow
Also coming up…
UK car sales fell around 4% in SeptemberGlobal markets rise on Trump medical news
While Cineworld’s shares have slumped, the broader stock market has opened higher today.
The FTSE 100 has risen by 32 points, or 0.5%, to 5932, which would be its highest closing level in two weeks.
Slightly positive risk tone overnight as Trump is expected to be discharged from the hospital today and there were no news reports of either senior members of the Trump administration or Biden testing positive. The reports on Trump health are a bit confusing – even though his medical staff suggested that he is doing fine, the drugs that he has been given are typically administered to severe cases indicating that his condition may not be as good as suggested. The coming days would see further updates on his health and on the election probabilities.
The last opinion poll, taken before Trump’s diagnosis but after the Presidential debate, showed that Biden has taken a 14 point lead vs Trump which puts him in a leading position.
Shares in Cineworld have more than halved at the start of trading in London, to a new all-time low.
They’ve slumped by 56% to 17p, as City traders react to the temporary closure of screens across the UK and US – two major markets for the group in better times.
Read more: theguardian.com