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FTSE 100 slightly higher on US stimulus boost
StockMarketWire.com
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The FTSE 100 was up more than 27 points at 6,752.17, as investors cheered news that the US Congress backed the $1.9 trillion stimulus plan.
Morrisons has seen pre-tax profits fall more than 60% in 2020, with a £290 million hit relating to 'Covid costs', despite a rise in sales and revenue for the high street supermarket chain. Its shares dipped 0.5% to 176.2p.
Rolls Royce has said its performance in 2020 has been 'significantly affected by the COVID-19 pandemic' as it reported a fall in revenue to £11.8 billion. It advanced 2.1% to 115.4p.
WPP has said it had a 'remarkably resilient' 2020 as it reported a 9.3% fall in revenue to £12 billion. It advanced 0.9% to 920.6p.
Drug companies GlaxoSmithKline GSK and Vir Biotechnology said they would seek authorisation in the US and other countries for their Covid-19 antibody after late-stage clinical trials showed the drug reduced hospitalisation and risk of death by 85% and was effective against other variants. GSK's share price fell 7p to £12.56.
Online trading platform IG reported better-than-expected third-quarter performance and said it was on track to achieve its three-year revenue target in its significant opportunities portfolio by year-end, one year ahead of the target. Its share price rose nearly 5% to 850p.
Revenue at Spirent Communications was up 4% in 2020, boosted by strong demand for both lab and live assurance solutions and our new 5G device testing solutions and services. Its share price rose 5.26% on the back of the news, reaching 250p.
The Trainline has reported a fall in net ticket sales to £783 million, equivalent to 21% of the prior year, as the measures put in place to curb the spread of coronavirus resulted in a significant reduction in passenger volume. In spite of the falls in ticket sales, the company's share price rose 2.16% to 490.80p
Real Estate company Derwent London swung to annual loss as the value of its property portfolio owing to the impact of Covid-19 lockdowns. For the year ended 31 December 2020, pre-tax loss was £83.0 million compared to a profit of £280.6 million in 2019, while net property and other income rose rose to £183 million from £182.6 million. Its share price fell slightly to £33.
Marshalls has reinstated its dividends after a progressive growth in sales in the second half of 2020. The company has recommended a final dividend of 4.30p as sales in the fourth quarter of 2020 ended ahead of the same period the year prior. The announcement resulted in a share price surge of 6.11% to 740.68p.
Bus company Go Ahead upgraded its full-year guidance after its London & International bus business secured all its expected revenue for the current year following successful contract bidding. The share price was up nearly 10% on the back of the news, at £14. Story provided by StockMarketWire.com
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