FTSE 100 movers: IAG rallies; AstraZeneca loses ground
London’s FTSE 100 was down 0.1% at 6,342.37 in afternoon trade on Monday.
AstraZeneca was weaker after saying its Covid-19 vaccine was highly effective in preventing the virus and that it would move quickly to get approval for use. An interim analysis of clinical trials of AZD122 in the UK and Brazil showed the vaccine had an average efficacy of 70% with protection occurring 14 days or more after two doses. One of the dosing regimens was about 90% effective, putting it on a par with other vaccines.
Neil Wilson, chief market analyst at Markets.com, said: "Whilst not as headline-grabbing as a 95% efficacy rate, 70% is by all accounts still very significant and Astra’s vaccine is cheaper, easier to deliver around the world and much easier to produce in large quantities than the Pfizer or Moderna versions, so it will likely play a big role global immunisation."
On the upside, engine maker Rolls-Royce, British Airways and Iberia parent IAG and Premier Inn owner Whitbread well are higher.
Travel and leisure stocks were boosted by the AstraZeneca update and by news that ministers have approved a plan to cut travel quarantine next week to just five days from 14 days. Under a 'test and release' scheme set to be introduced next month, travellers will have to quarantine for five days before being tested. If the test result is negative, their isolation will end immediately.
In addition, Prime Minister Boris Johnson is expected to announce later in the day that the 2200 GMT closing time for pubs and restaurants will be relaxed when lockdown is lifted next week.
BP and Royal Dutch Shell gushed higher as oil prices rallied, with Brent crude hitting its highest level since early September.
FTSE 100 - Risers
Rolls-Royce Holdings (RR.) 107.50p 8.11%
International Consolidated Airlines Group SA (CDI) (IAG) 166.50p 5.48%
Royal Dutch Shell 'B' (RDSB) 1,240.80p 3.68%
Royal Dutch Shell 'A' (RDSA) 1,288.40p 3.50%
BP (BP.) 251.95p 3.09%
Lloyds Banking Group (LLOY) 36.81p 2.78%
Glencore (GLEN) 200.10p 2.58%
Whitbread (WTB) 3,071.00p 2.30%
BHP Group (BHP) 1,680.80p 2.14%
Evraz (EVR) 385.70p 2.06%
FTSE 100 - Fallers
Halma (HLMA) 2,290.00p -3.82%
Polymetal International (POLY) 1,619.00p -3.77%
AstraZeneca (AZN) 8,053.00p -3.17%
British American Tobacco (BATS) 2,719.50p -2.18%
Croda International (CRDA) 6,144.00p -2.17%
Ocado Group (OCDO) 2,253.00p -2.13%
Pearson (PSON) 622.00p -2.05%
Tesco (TSCO) 228.10p -1.98%
Sainsbury (J) (SBRY) 214.50p -1.97%
Morrison (Wm) Supermarkets (MRW) 182.80p -1.96%