1 March 2021 | 08:39am
StockMarketWire.com - UK stocks opened substantially higher on Monday after Johnson & Johnson s single-dose Covid-19 vaccine was approved for use in the US.
At 0823, the benchmark FTSE 100 index was up 104.78 points, or 1.6%, at 6,588.21.
The Johnson & Johnson shot, expected to be distributed this week, will be the first single-dose vaccine anywhere on the market.
Sentiment also was being buoyed by optimism US lawmakers will soon push through a huge stimulus package.
In local news, distribution and services group Bunzl fell 2.0% to 321.93p, even as it reported a rise in profit driven by sales of higher priced Covid-19-related products.
1 March 2021 | 07:54am
StockMarketWire.com - Newspaper publisher Reach reported a steep fall in annual profit as print sales continued to slump amid the pandemic, though it reinstated its dividend citing its growth prospects.
Pre-tax profit for the year to 27 December plunged to £0.4 million, down from £120.9 million year-on-year.
The publisher of the Daily Mirror and Daily Express said its revenue had slipped 15% to £600.2 million, with an 11% rise in digital sales more than offset by a 19% slump in print.
Reach declared a final dividend of 4.26p per share, up from the 2.5p declared for 2019.
Adjusted operating profit fell 13% to £133.8 million. Reach said cost cutting and a higher digital mix supported a 50-basis-point increase in its adjusted operating profit margin to 22.3%.
1 March 2021 | 11:54am
StockMarketWire.com - The FTSE 100 was up 1% to 6,550.74 by midday after the big recent sell-off in the bond market eased. US futures pointed to a rebound on Wall Street too.
Other positive drivers for the FTSE included the launch of a new Covid vaccine and progress towards passing a big US stimulus package. The Johnson & Johnson shot, expected to be distributed this week, will be the first single-dose vaccine anywhere on the market.
Halfords, a motoring and cycling products and services provider, upgraded its outlook on profit, citing a strong-than-expected performance during its fiscal fourth quarter of the year. The shares surged 11.7% to 323.5p.
22 February 2021 | 09:44am
StockMarketWire.com - Insurance premium finance specialist Orchard Funding said its first-half lending volumes had dropped 21% amid a drop in demand.
Lending for the six months through January had fallen to £30 million, down from £37.9 million year-on-year, as expected. Revenue for the first half is expected to be broadly in line with expectations, while costs have remained stable, the company said. Whilst the board is confident of the long-term prospects of the group, it remains mindful of the downward pressure on lending caused by Covid-19, consequential lockdowns and ongoing economic uncertainty in the second half.
At 9:44am: [LON:ORCH] Orchard Funding Group Plc share price was 0p at 50p