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Vaccine hopes propel London shares; Primark owner jumps

Published 02/07/2020, 08:25
Updated 02/07/2020, 08:30
© Reuters.
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* FTSE 100 up 0.7%, FTSE 250 adds 0.8%

July 2 (Reuters) - London shares rose on Thursday, bolstered
by signs of progress in developing a vaccine for the novel
coronavirus, while Primark-owner Associated British Foods jumped
after issuing an upbeat trading update.
AB Foods ABF.L surged 7.4% to the top of the FTSE 100 as
it said trading in the Primark fashion stores that had reopened
from a coronavirus-led lockdown had been "reassuring and
encouraging". The blue-chip FTSE 100 .FTSE was up 0.7% and the mid-cap
FTSE 250 .FTMC 0.8%, tracking strength in Asia, as a COVID-19
vaccine from Pfizer PFE.N and Germany's BioNTech BNTX.O was
found to be well tolerated in early-stage human trials.
MKTS/GLOB
Travel-related stocks, including British Airways-owner IAG
ICAG.L and easyJet EZJ.L , were among the biggest gainers as
a report said the British government will end quarantine rules
for those arriving from 75 countries so that people can go on
holiday. But cardboard maker DS Smith SMDS.L slumped 7.3% after
saying it was too early to resume dividends in the short-term
due to market uncertainty caused by the pandemic, even as it
reported a 5% jump in annual profit.

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