European stocks bounded back on Friday, driven by positive news-flow around efforts to develop a Covid-19 vaccine, upbeat corporate earnings in the luxury sector, and a rebound overnight on Wall Street.
London’s top-flight index finished in positive territory on Friday, as investors weighed concerns about tightening Covid-19 restrictions with positive developments on the vaccine front.
Brexit will have a pronounced impact on Germany, but the hit to the UK will be especially hard, Germany's most prestigious economic research institute said.
The FTSE 100 ended the week down 87. 07 points, at 5,919. 58.
Pfizer and BioNTech's Covid-19 vaccine candidate could be ready for use by the end of November, the boss of the former company, Albert Bourla, said.
Analysts at Berenberg upgraded their rating on hotel operator Whitbread from 'hold' to 'buy' on Friday, stating the current price of the stock left the group undervalued given its real estate portfolio.
Audioboom revealed on Friday that chairman Michael Tobin had acquired 5,000 ordinary shares in the AIM-listed podcasting company.
Open Orphan updated the market on its talks with the UK government and other partners for a coronavirus challenge study in the UK on Friday, confirming that “advanced negotiations” were ongoing.
Data analytics company Ixico has entered into an agreement with NYU Langone Health to support a trial to determine if the immunosuppressant drug Sirolimus, approved by the FDA to prevent organ transplant rejection and for the treatment of a rare and progressive lung disease called lymphangioleiomyomatosis, is also able to slow the progression of disease in people with multiple system atrophy (MSA).
Investors focus over the coming week will be split between Asia and a raft of surveys on global manufacturing sector conditions.
Braveheart Investment Group updated the market on progress with the proof-of-concept for a Covid-19 test that Paraytec was conducting with the University of Sheffield.
Wall Street stocks opened higher on Friday as vaccine news, stimulus talks, a solid beat in September retail sales figures and a strong preliminary reading of the University of Michigan's consumer sentiment index were all in focus.
The American consumer grew a bit more confidence in October, the results of the most closely followed gauge for confidence across the country revealed.
London’s FTSE 250 was flat at 17,845. 41 in afternoon trade on Friday.
Industrial output in the US missed economists' forecasts by a mile in September amid a slump in output of automobiles and computers.
Americans continued to splash out at pace last month, despite the slowdown in hiring and a rebound in Covid-19 infections in many states.
London’s FTSE 100 was up 1. 3% at 5,909. 77 in afternoon trade on Friday.
RBC Capital Markets upgraded its rating on JD Sports and Dixons Carphone on Friday.
Tensions on stalled Brexit trade talks heightened on Friday as Prime Minister Boris Johnson said Britons should prepare for no-deal if the EU did not compromise.
Financial market data processing and trading company Arcontech announced the signing of a new agreement with a longstanding tier 1 bank client on Friday.