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MARKETS LIVE: FTSE rises ahead of update from Chancellor;

MARKETS LIVE: FTSE rises ahead of update from Chancellor; Vodafone pays out dividend despite loss; Ryanair to fly 40% of flights from July; Morrisons boosted by lockdown

The FTSE has risen this morning as investors await an economic update from Chancellor Rishi Sunak, including details on a gradual winding down of the furlough scheme.

Telecoms giant Vodafone has given out a dividend despite recording a €455million loss for the 2020 financial year. However, this loss was much lower than the previous year, which was €7.64billion.

Ryanair has announced a plan to restore 40 per cent of its flight schedule from July 1. It would involve nearly 1,000 flights per day being operated and 90 per cent of its pre-Covid-19 route network being restored.  

Supermarket chain Morrisons has reported a 5.7 per cent rise in group like-for-like sales in its latest quarter, with demand boosted by the country’s coronavirus lockdown. It comes after the company cut its petrol prices to below £1 a litre.