16 March 2021 | 12:08pm
StockMarketWire.com - The FTSE 100 was back above 6,800 by Tuesday lunchtime as sterling weakness and US stimulus optimism helped lift the index. At midday the index was up 0.9% to 6,809.61.
Bakery chain Greggs rallied 4.7% to £23.15, even as it reported its first loss as public company, but voiced optimism, saying it had made a better-than-expected start to 2021.
Greggs continued to keep its dividend suspended, saying it would need to return to a level of profitability and cash generation sufficient to resume payouts.
Natwest, the bank formally known as Royal Bank of Scotland, slipped 1.1% to 186.5p on confirming that UK authorities had launched criminal proceedings against it over historic allegations of money laundering.
16 March 2021 | 16:36pm
StockMarketWire.com - The FTSE 100 enjoyed a positive day on Tuesday to finish just above 6,800 up 0.8% by the close.
News that European Medicines Energy believes the benefits of the AstraZeneca vaccine outweigh any risks after several European countries suspended its use helped sentiment.
AstraZeneca shares were up 3.5% to £72.20. The company agreed to supply 500,000 additional doses of its Covid-19 vaccine to the US.
AstraZeneca also announced that it had sold its 26.7% stake in Viela Bio, owing to Horizon Therapeutics s acquisition of Viela, for cash proceeds and profit of about $775 million.
The S&P 500 was flat by 4.30pm UK time with tomorrow s meeting of the US Federal Reserve and any potential signal on the pace and direction of interest rates in focus.
6 January 2021 | 09:00am
StockMarketWire.com - The FTSE 100 made moderate gains this morning, continuing its strong start to 2021 as the UK undertakes its massive Covid-19 vaccine rollout.
Markets also reacted to news that the Democrats were close to full control of the levers of government in the US after Senate run-off elections in the US.
High-street bakery chain Greggs estimated annual losses of up to £15 million and forecast that profit would not return to pre-COVID levels until 2022 at the earliest owing to the ongoing impact of the Covid-19 pandemic.
Over the fourth quarter, sales fell to £293 million from £344 million year-on-year and company-managed shop like-for-like sales averaged 81.1% of the 2019 level, the company said.