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Rolling live coverage of business, economics and financial markets as first official snapshot expected to eurozone GDP down 2% in first quarter

Coronavirus – latest updates
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8.05am BST
The FTSE 100 has gained 1.4% in the opening minutes of trading, while the FTSE 250 is up 1.3%.
Across Europe stocks are also looking positive, with France’s Cac 40 up 1% and Spain’s Ibex up 0.8%. The Dax in Germany has posted a 1.6% gain - let’s see if that holds.
7.54am BST
Transport for London has this morning said that it is facing a £3bn hole in its finances this year due to the impact of the coronavirus, meaning further help government help may be necessary for the authority. Continue reading...