UK economy shrank sharply in April; oil prices slide on fears of second Covid-19 wave - business live

• GDP posts record fall of 20.4% in April as UK economy suffers total lockdown loss of 25%
• UK industrial output, services and construction post record declines
• UK trade collapses after fall in travel and tourism
• Eurozone industrial production in record decline
• European shares push higher after earlier losses

10.47am BST

In the real world," the world's biggest exhibition company expects to host its first major post-Covid-19 event in China next month. My colleague Mark Sweney reports:

Informa, the world's largest exhibition company, said it has cancelled or postponed more than 160 events worth 300m in revenue and a further 300 have been run as digital instead of physical events.

10.44am BST

In the financial markets, stock markets are pushing higher after heavy losses yesterday - shrugging off dismal UK and eurozone data for April and fears of a second Covid-19 wave in the US.