FirstGroup buoyed by banking arrangements

FTSE 250 transport firm FirstGroup (LON:FGP) has seen its share price grow by 12.83% to 51p (as of 13:00 GMT) after announcing that it had negotiated flexibility for its next two covenant tests. Management said that they expect to meet the requirements given current performance but believed it prudent to secure additional flexibility.

The company said it would take all possible actions to ensure it exits the pandemic in a solid financial position.