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London stocks were set to fall at the open on Wednesday following strong gains in the previous session, but sentiment was likely to get a boost from news the UK has approved Pfizer’s Covid-19 vaccine for rollout next week.
London stocks closed in positive territory on Tuesday, with sentiment underpinned by vaccine hopes and solid UK and China manufacturing data.
It was a grim day for the UK retail sector as beleaguered department store chain Debenhams was set to be liquidated following failed rescue talks with JD Sports, just hours after Philip Green’s Arcadia retail group went into administration.
UK domestic equities are buy, Goldman Sachs said in a strategy note on Tuesday, as it pointed to a sharp economic recovery next year.
Scotland-focussed exploration and production company Scotgold Resources announced on Tuesday that first gold had been poured at its “high-grade, low-cost” Cononish gold and silver mine in the Scottish Grampian Mountains area.
London stocks had extended gains by midday on Tuesday, with sentiment underpinned by vaccine hopes and solid UK and China manufacturing data.
Building materials distributor Grafton has announced the acquisition of bespoke wooden staircase manufacturer StairBox for £44m.
Annual house price growth advanced at a pace of 6.5% last month, the highest rate seen in almost five years.
AstraZeneca said it had agreed to sell the rights to its cholesterol treatment Crestor to Germany’s Grunenthal for up to $350m (£261m).