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FTSE 100 surrenders early gains after chaos in Washington
StockMarketWire.com
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The FTSE 100 failed to hold on to its gains on Thursday as investors digested the chaotic scenes from Washington overnight after a pro-Trump mob invaded Congress.
By midday the index was down 0.5% to 6,809.51.
US futures pointed to gains despite the violence as investors looked through to president elect Joe Biden's agenda, with potential for greater stimulus efforts after the Democrats secured control of the Senate.
Sainsbury's said total retail sales were up 6.8% in its third quarter trading statement for the 15 weeks to 2 January 2021, while Christmas like-for-like sales were up 9.3%.
Shares climbed 3.9% to 241.5p.
Discount retailer B&M European Value Retail lowered its annual earnings guidance, but declared a special dividend after reporting that third-quarter revenue rose by more than a fifth.
Its shares dropped 0.3% to 528.4p.
Sports-betting and gaming group Entain upgraded its full-year guidance on a strong final quarter of the year, and said it had made an offer to buy Enlabs AB for SEK 2.8 billion, or about £250 million.
Shares rose 0.8% to £14.72
Cairn Energy said its previously announced share consolidation plan would seek to reduce shares in a ratio of 11 new shares for every 13 existing shares.
Shares fell 2.5% to 206.8p.
Lifestyle brand retailer Joules estimates that stands to lose between £14 and £18 million of revenue should the nationwide lockdown continue through to 1 April.
Its share price dropped 4.2% to 173.4p.
Cancer therapies and diagnostics group Avacta said it had entered into a license agreement with Point Biopharma to provide the latter access to its technology for the development of tumour-activated radiopharmaceuticals.
Shares fell 5.7% to 132p.
Specialist drug development company Sareum Holdings has been granted a US patent for its SDC-1802 TYK2/JAK1 kinase inhibitor programme. This programme is in preclinical development and targets cancer and cancer immunotherapy.
Its shares were up 10.2% at 2.42p.
Story provided by StockMarketWire.com
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