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FTSE 100 set to post weekly gains after successful vaccine rollouts
StockMarketWire.com
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The FTSE 100 is on course to post a weekly gain of 1% after falling for three consecutive weeks as vaccine rollouts offered hope of an early economic recovery.
The index was up 0.051% at 0845GMT to 6,507.04 points. There was better news for the FTSE 250 which recorded a rise of 0.61% to 20,935.41 points.
Pharmaceutical giant AstraZeneca said the trial of its head and neck cancer drug candidate Imfinzi did not meet its primary and secondary objectives.
Its shares rose 0.2% to £73.90.
Beleaguered retailer French Connection confirmed it was in talks with Spotlight Brands and Go Global Retail concerning possible takeover offers for the company.
Shares rose 28.6% to 20.1p
Insurance company Beazley swung to an annual loss following a deterioration in its combined ratio amid a wave of Covid-19 related claims. For the year ended 31 December, the company reported a pre-tax loss of $50.4 million, compared with a profit of $267.7 million year-on-year, while premiums grew 19% to $3,563.8 million.
Beazley shares climbed 12.4% to 361p.
Warehouse REIT plans to raise £45.9 million through a share issue to purchase more industrial units. The group issuing is shares at 121p compared to the closing price of shares last night of 126p.
Its shares slid 2.4% to 123p.
Life science investor Syncona has noted that its portfolio company Achilles Therapeutics expects to consider additional capital raising options this year, which could include an initial public offering in the United States. Its shares were up 0.99% to 255p.
Student residential real estate company GCP Student reported a slight decline in quarterly net assets and said it would collect between 55% and 60% of budgeted total income for the 2020/21 academic year as ongoing Covid-19 lockdowns dent occupancy.
Shares dropped 1.9% to 142p.
RF and microwave semiconductors CML Microsystems said it had completed the $49 million sale of Hyperstone, the group's storage division, to Swissbit, after receiving regulatory clearance and meeting other customary closing conditions to close the deal.
Its shares moved higher by 1.1% to 384p.
Cyber security services company Falanx said it had won new contract and renewals across both its divisions. The company also said it was talks to secure the UK government-backed coronavirus loan to support acquisitions and growth.
Share rose 8.3% to 1.3p.
Story provided by StockMarketWire.com
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