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FTSE jumps as hopes rise over Brexit deal
StockMarketWire.com
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UK stocks moved sharply higher on the last full trading day before Christmas as hopes were raised that a Brexit trade deal could be within reach.
The UK and EU are continuing talks on post-Brexit trade, amid an increasing number of reports that they are close to agreeing a deal.
The UK's benchmark FTSE 100 index gained 0.66% to 6,495.75, while the more domestically-focused FTSE 250 - considered a barometer for Brexit sentiment - soared 1.74% to 20,297.76.
In corporate news, oil company Cairn Energy jumped 34.54% to 223.2p after it won a long-running international arbitration case against the Indian government and was awarded $1.2 billion in damages plus interest and costs.
Cairn had been fighting against a large Indian capital gains tax bill since 2015.
Pub owner Marstons advanced 8.56% to 74.8p as it agreed to operate Brain's portfolio of 156 pubs in Wales, for an undisclosed sum, on a combination of leased and management contract arrangements.
Brains, a family business established in Cardiff in 1882, had been under financial pressure due to the pandemic. Its 1,300 staff would transfer to Marston's.
Commercial property company British Land climbed 2.92% to 497.7p having agreed to sell its 75% stake in a portfolio of three buildings in London's West End to Allianz Real Estate for £401 million.
Software group Sage shed 0.81% to 586.8p following news that it had agreed to sell its businesses in Asia and Australia to The Access Group for around £95 million.
Sage had told the market in November that it was holding the businesses for sale.
Property investor CLS rose 1.42% to 214p having agreed to acquire an office building in Essen, Germany for €38.2 million.
Infrastructure investment company International Public Partnerships dipped 0.24% to 164.4p after it pledged additional investments into the Northern Diabolo rail link in Belgium.
Cell-based therapies group MaxCyte jumped 59.65% to 500p on guiding for annual financial results at its core life sciences business ahead of market expectations.
Pharmaceutical services group Open Orphan added 3.9% to 24p after 63%-owned drug development company PrEP Biopharm completed a toxicology study for a novel pan-viral prophylactic asset.
The animal model study provided safety data needed to move into longer duration dosing in clinical studies to validate efficacy against respiratory viruses, including Covid-19, influenza and the common cold.
Story provided by StockMarketWire.com
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