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FTSE in sea of red as worries over European third Covid-19 wave looms

The Market Report with Katie Pilbeam.

FTSE 100 opened flat with doubts starting to creep in about the roadmap timetable as vaccination supply problems mount.  London’s blue-chip index was down slightly at 6,712 early on.

Cineworld has raised more cash as it waits for cinemas to re-open again. The group  posted an annual loss of more than US$3bn but is pinning recovery hopes on pent-up demand with US sites start to screening again from 2 April and in Britain from 17 May.

PLC () has published the results from its vaccine trial after criticism from US agency NIAID that some of the data used might have been out of date. The FTSE 100 pharma company said the jab showed 76% efficacy in reducing the impact of coronavirus symptoms which rose to 85% in the over-65s.

Britain’s new £50 note featuring  Bletchley Park codebreaker Alan Turing will  enter circulation on 23 June to coincide with the mathematician’s birthday. The note is made of polymer and said to be very hard to forge.

Ceres Power Holdings  () has appointed one of the founding members of UK chip designer ARM Holdings to its board as an independent director. Tudor Brown will take up the role with the fuel cell and electrochemical specialist at the start of next month.

Among the small caps, PLC () has signed a two-year multi-million-pound sponsorship deal with Subway covering 55 markets. The sandwich chain’s brand will appear on Guild’s team jersey and on social media.

() posted a four-fold jump in half-year profits thanks to higher platinum group metals production and prices. The miner added it expects 2021 to be another big year.

Read More: FTSE in sea of red as worries over European third Covid-19 wave looms

2021-03-25 06:16:00

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