Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Indexes & Markets

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

FTSE 100 snaps four-day losing streak on vaccine hopes

10/16/2020 | 12:54pm EST
FILE PHOTO: A broker looks at financial information on computer screens on the IG Index the trading floor

(Reuters) - The FTSE 100 snapped a four-day losing streak on Friday after an upbeat coronavirus vaccine update from Pfizer and signs Brexit talks might continue until the year end for a possible trade deal with the European Union.

Drugmaker Pfizer Inc said it could file for U.S. authorisation of the COVID-19 vaccine it is developing with German partner BioNTech as early as late November.

The blue-chip index closed up 1.5%, led by pharmaceutical, aero, bank and insurance stocks.

However, the FTSE 100 and the mid-cap index logged their first weekly declines in three weeks on concerns that the new tiered coronavirus restrictions across parts of England would derail a nascent economic recovery.

"With more than half of the country under 'high' restrictions, it's hard not to discount the possibility of even tighter restrictions over the winter months," wrote Deutsche Bank economist Sanjay Raja in a note.

"Despite the relatively modest increase in restrictions nationally, constraints on activity will almost certainly derail the UK's economic recovery."

Prime Minister Boris Johnson asked businesses to prepare for a no-trade deal Brexit unless the EU fundamentally changed course.

The mid-cap FTSE 250 index ended 0.1% lower as J D Wetherspoon Plc tumbled 19.4% after the pub operator posted an annual loss and announced job cuts as it called for "sensible" government measures to contain the health crisis.

Jupiter Fund Management Plc shed 3.3% after the asset manager suffered one billion pounds in net outflows in the third quarter.

Shares of oil major BP Plc rose 1.4% after falling to their lowest level since 1995 in the previous session.

Luxury goods maker Burberry Group Plc jumped 3.2% after the world's biggest luxury goods group, LVMH, said recovering sales of Louis Vuitton handbags had helped it contain the fallout from the pandemic in the third quarter.

(Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V and Elaine Hardcastle)

By Devik Jain


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BIONTECH SE -1.99% 118.68 Delayed Quote.257.41%
DEUTSCHE BANK AG 2.32% 9.751 Delayed Quote.37.78%
JUPITER FUND MANAGEMENT PLC 2.23% 265.8 Delayed Quote.-36.52%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 0.03% 498 Real-time Quote.20.20%
MSCI UNITED KINGDOM (STRD, UHD) 1.65% 1025.902 Real-time Quote.-16.09%
PFIZER, INC. -1.74% 40.09 Delayed Quote.9.91%
Latest news "Markets"
05:24pDow Industrials Edge Higher as Unemployment Claims Drop -- Update
DJ
05:07pDow Industrials Edge Higher as Unemployment Claims Drop
DJ
04:28pEquities hit record highs as dollar falls on vaccine hopes
RE
04:17pWALL STREET STOCK EXCHANGE : U.S. Stocks Finish Mixed as Unemployment Claims Drop
DJ
12:47pEUROPE : European shares end flat; Miners, Rolls-Royce lift FTSE 100 to six-month high
RE
11:53aOil futures briefly turn negative after sources say opec+ agrees to raise oil output by 500,000 bpd from january
RE
11:52aWalgreens Up Nearly 7%, Best Performer in the DJIA So Far Today -- Data Talk
DJ
11:31aTSX rises on industrials, strong bank earnings
RE
10:06aWALL STREET STOCK EXCHANGE : U.S. Stocks Edge Up as Unemployment Claims Drop
DJ
09:48aWALL STREET STOCK EXCHANGE : U.S. Stocks Wobble as Unemployment Claims Drop
DJ
Latest news "Markets"