ENTERTAINMENT

The market continues to climb 1.8% to 118 points to 6,579 points as profits are lost on the morning of the Oxford Jab rollout


Lockdown gloom stifles FTSE: Market continues to climb 1.8% 118 to 6,579 points as profits made on the morning of the Oxford Jab rollout are lost amid fears the UK is poised for third national lockdown

  • London's top market won over 200 points when it opened this morning
  • Brexit and the introduction of Oxford University / AstraZeneca Jab encourage traders
  • Increase of 3% plus, followed by increases of 1.9% and 1.3% in France and Germany

The FTSE 100 stuttered this afternoon after hitting its highest point since the Covid crash – but then fell off before the upcoming new national lockdown

London's top market had gained more than 200 points in the first hours of trading after the end of the Brexit transition period on New Years Day – although experts said the shot in the arm had more to do with the Oxford University / AstraZeneca administration.

The increase of 3% plus just after 8 a.m. was followed by increases in the French and German main indices of 1.9% and 1.3%. The FTSE was up 2.7% overall at noon.

But it fell back again after Boris Johnson's new national lockdown was left well behind before it was announced at 8 p.m.

The FTSE 100 today reached its highest point since the Covid crash in March last year, when traders began celebrating Brexit and launching yet another new vaccine in the UK in 2021

In the morning, markets reacted positively to news that the NHS is starting to roll out the new vaccine against Covid-19, developed by scientists from Oxford University and AstraZeneca.

The vaccine is less effective than the Pfizer push previously distributed. But each dose is cheaper and the vaccine can be stored at much lower temperatures.

& # 39; Despite the rapid surge in daily Covid-19 case numbers and the impending need for a new national lockdown – be it immediately as requested by Keir Starmer or in a few weeks as suggested by Boris Johnson – the FTSE was the one biggest bombastic on the main indexes after the bell, ”said Connor Campbell, analyst at Spreadex.

& # 39; These gains can be linked to the launch of the Oxford / AstraZeneca vaccine in the UK – the continuation of the great 2021 hope of ending the coronavirus pandemic. This is another step back on the road to normal and investors have grabbed it with all their might. & # 39;

He added that a 0.4% decline in the pound against the euro while remaining unchanged against the dollar would suggest that the FTSE's gains are not materially linked to Brexit.

The top market was also clearly supported by a rising Entain share price. The Ladbrokes and Coral owner said Monday it had turned down an offer from US casino giant MGM Resorts worth £ 8.1 billion. Shares rose 26% on the news.

Neil Wilson, a Markets.com analyst, said British companies would benefit from liberalizing the US game market.

'We should also note that good global companies trading at a UK listed discount to their share price remain attractive to growth-hungry overseas groups. The clarity about Brexit could finally lead to more offers of this kind appearing, ”he added.

Dealers will look forward to two vital U.S. Senate races in Georgia on Tuesday. The state that elected Joe Biden president is slated to elect two senators and could hand over control of the chamber to the Democrats.

A victory for the Democratic candidates would allow Mr Biden much more freedom in pursuing his own legislation over the next two years, while a loss could give Republicans the option to block many of his political appointments.

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