London’s FTSE 100 was up 0.2% at 6,722.35 in afternoon trade on Monday.
AstraZeneca was sitting pretty at the top of the index after it said a US trial of the coronavirus vaccine it has developed with the University of Oxford showed it is 79% effective at preventing symptomatic Covid-19 and 100% efficacy at preventing severe disease and hospitalisation.
AstraZeneca said the vaccine was well tolerated, and the independent data safety monitoring board (DSMB) identified no safety concerns related to the vaccine. More specifically, there were no safety issues regarding blood clots.
News of the trial results comes after several European countries suspended the use of the vaccine in recent weeks due to concerns about blood clots.
Kingfisher was also a high riser after the B&Q owner reinstated its dividend as it reported soaring annual profits and a strong start to the new fiscal year on higher demand from “a new generation of DIYers” working from home during the Covid-19 pandemic.
On the downside, British Airways and Iberia parent IAG was under the cosh, along with engine maker Rolls-Royce and GKN owner Melrose Industries as summer holidays abroad looked increasingly unlikely due to new variants of Covid-19 and a surge in cases in Europe.
IAG was also knocked lower by a downgrade to ‘hold’ from ‘buy’ at Deutsche Bank.
FTSE 100 – Risers
AstraZeneca (AZN) 7,341.00p 3.25%
Kingfisher (KGF) 322.00p 2.97%
Reckitt Benckiser Group (RB.) 6,496.00p 2.88%
Rightmove (RMV) 582.80p 2.64%
Standard Life Aberdeen (SLA) 293.70p 2.44%
DCC (CDI) (DCC) 6,390.00p 2.31%
Scottish Mortgage Inv Trust (SMT) 1,138.00p 2.06%
NATWEST GROUP PLC ORD 100P (NWG) 195.30p 2.04%
Spirax-Sarco Engineering (SPX) 11,290.00p 1.90%
Smurfit Kappa Group (CDI) (SKG) 3,450.00p 1.89%
FTSE 100 – Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 196.40p -4.98%
Rolls-Royce Holdings (RR.) 112.75p -3.63%
Legal & General Group (LGEN) 271.10p -2.45%
British Land Company (BLND) 506.60p -2.20%
Melrose Industries (MRO) 171.55p -1.94%
Land Securities Group (LAND) 675.60p -1.85%
Rio Tinto (RIO) 5,378.00p -1.70%
Polymetal International (POLY) 1,486.00p -1.56%
HSBC Holdings (HSBA) 424.65p -1.44%
Next (NXT) 7,840.00p -1.26%
