FTSE 100 rose gently as investors digested Boris Johnson’s roadmap to recovery from Covid-19. London’s blue-chip index rose by 11 to 6,623, suggesting most of the well-leaked plan was already priced in.
British Airways owner IAG, aeroengine maker Rolls-Royce and aeroengineer Melrose were the best of the risers on renewed hopes for a return to normal soon. Intercontinental Hotels was up for similar reasons even though it posted a US$280mln loss in 2020.
A sharp drop in the price of Bitcoin overnight has cost boss Elon Musk his status as the world’s richest man. Bitcoin has dropped 12% over the last 24 hours, a fall that might have been sparked by Musk himself, who tweeted over the weekend that prices of the cryptocurrency and fellow digital token Ethereum “do seem high lol”.
HSBC reinstated its dividend even though profits tumbled by more than a third in 2020. The bank also confirmed it would switch investment even more towards Asia in future and away from Europe and the US.
Among the small caps, OKYO Pharma Limited (LON:OKYO) has received a US patent for a potential new type of analgesic. It is being developed to treat symptoms of neuropathic pain and inflammation in the eyes and dry eye disease.
World High Life PLC’s (LON:LIFE) (OTCQB:WRHLF) brand Love Hemp Limited has submitted its novel food dossier to the UK’s Food Standards Agency. The firm is looking to support the authorities in regulating the CBD market.
Crossword Cybersecurity PLC (LON:CCS) has signed an agreement with the University of Glasgow to create new software to support a privacy risk and compliance project.
