Market wrap: Cineworld dives 15% after £1.3bn Covid losses

Cineworld reported one of the steepest declines on the market today, dropping by 14.7% after reporting soaring losses in H1 results.

The cinema chain revealed a £1.3bn loss in the period as a result of coronavirus lockdown and said it would need additional finance to survive a second lockdown. Last month, it faced legal battles with landlords over unpaid rents.

The share price ended the day at 41.36p.

Housebuilders across the FTSE 100 and 250 climbed, following tumbling share prices earlier this week.

Persimmon rose by 3.91% to 2,417p, Barratt was up by 3.24% to 452.7p and Bellway also increased, up by 4.42% to 2,222p.

The FTSE 100 fell by 1.3% to 5,823 and the FTSE 250 was down by 1.12% at 16,803.

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