FTSE 100 clawed back some of the Omicron-inspired losses yesterday as the UK economy again showed some resilience. London’s blue-chip index was up 41 at 7,272.
Britain’s unemployment rate fell to 4.2% in the three months to October but remains above pre-pandemic levels. The end of the furlough scheme in September did not equate to large job losses said the ONS.
Sir Richard Branson and co-owner Delta airlines have injected £400mln into Virgin Atlantic. The funding is to shore up its finances after the airline’s heavy losses during the pandemic.
Altice, the vehicle of French billionaire Patrick Drahi has increased its stake in BT to 18% but reiterated it was not interested in making a full takeover bid. Under UK takeover rules, that statement means it is now not allowed to make an offer for the UK telco for another six months.
Omega Diagnostics has been notified by its technology partner Mologic that its lateral flow tests are effective in detecting the Omicron variant. This is the same test that is manufactured and sold for professional use by Omega as a COVID-19 antigen test.
Arecor Therapeutics PLC (AIM:AREC) has signed an exclusive drug formulation study collaboration with an unnamed global pharma. Under the agreement, Arecor will use its proprietary formulation technology platform to develop an improved, stable, liquid formulation.
Kodal Minerals shares perked up on encouraging updates from its Fatou Gold project and its Bougouni Lithium project, Both projects are located in southern Mali..
