6 January 2021 | 16:38pm
StockMarketWire.com - A fall in sterling amid concern about the Covid situation in the UK, hopes for super-charged stimulus across the Atlantic and rising oil prices as OPEC announced output cuts helped lift the FTSE 100 3.5% to 6,841.86, its highest levels in more than 10 months.
Expectations for a Democrat trifecta of control of the White House, Senate and House of Representatives is expected to lead to a more generous US stimulus package.
US stocks were mixed with big technology stocks under pressure on fears a freer hand for the Biden administration could leave the big tech names vulnerable to anti-trust measures and higher taxation. Overall though the S&P 500 was up 1.2% to 3,772.83.
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Informa (INFMF.PK, INF.L) confirmed the Group's performance for 2020 will be in line with the revenue guidance provided at the half-year results in September
By Reuters Staff
(Adds detail on events, chairman move, background)
Jan 6 (Reuters) - Events group Informa Plc on Wednesday forecast a more than 70% plunge in 2020 profit as the industry was ravaged by coronavirus-driven restrictions and halts in physical exhibitions worldwide.
Hundreds of global events organised by Informa were cancelled or postponed last year due to the COVID-19 pandemic, denting a major chunk of revenue for the firm behind shows including China Beauty Expo, Monaco Yacht Show, World of Concrete and Arab Health.
Mainland China resumed events since June last year, but several major markets including the United States and Europe remained virtually shut and Britain imposed another national lockdown to stem the spread of a new coronavirus variant.
The British multinational exhibitions group expects physical events to resume in 2021.
Informa named John Rishton as the new chairman on Tuesday to replace Derek Mapp.
Informa plc (LON: INF) said on Wednesday that its annual profit is expected to see an over 70% decline in 2020 due to the COVID-19 crisis that weighed on the industry at large. The company said that the ongoing pandemic pushed it into postponing or cancelling hundreds of global events last year, including China Beauty Expo, World of Concrete, Monaco Yacht Show, and Arab Health.
In a report published in September, the London-based company had posted £801.2 million of pre-tax loss in the fiscal first half due to the Coronavirus pandemic that has so far infected a little under 87 million people worldwide and caused over 1.8 million deaths.