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Slow US start puts FTSE on the back foot, sterling volatile as Brexit uncertainty continues
StockMarketWire.com
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The FTSE 100 was down 0.5% by the close after a modestly positive open on Wall Street turned negative.
By 4.30pm UK time the S&P 500 was down 0.6% to 3,700.34 as investors became more nervous about the fate of a US stimulus package. Sterling remained volatile with certainty on the Brexit outcome still elusive.
Retailer Next fell 1.9% to £67.90 amid speculation it might launch a joint bid for Arcadia, the owner of Topshop which is in administration.
Gambling group Flutter Entertainment was down 3% to £150.25 after it faced a $875 million hit from a US court judgement overnight.
Flutter said it would contest the ruling from the Kentucky supreme court.
Respiratory drug development company Synairgen surged 29% higher to 140.2p after it received fast track status from the US Federal Drug Agency.
This means shorter review timelines from the FDA and comes after the company made an Investigational New Drug (IND) application for its SNG001 inhaled drug as a treatment for patients with Covid-19, enabling the start of US trials.
Novel immunotherapy developer Scancell Holdings has selected a new Covid-19 vaccine candidate. The company has chosen SN14, a second generation vaccine which the company says has several potential advantages over currently approved and late-stage Covid-19 vaccines.
Shares climbed 14.3% to 13.7p.
Esports company Gfinity said it was 'well positioned' for growth in 2021 after delivering successive months of operational profit for the first time in its history in both October and November.
Its shares rose 1.8% to 3.52p.
Story provided by StockMarketWire.com
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