The Market Report with Katie Pilbeam. FTSE 100 open strongly again on vaccine news and a switch in to duller, less cyclical stocks. The blue-chip index was up 62 to 6,885 in early trades.
Deliveroo shares rose 3% as retail investors were allowed to trade for the first time. Some 70,000 small investors bought shares in what has been dubbed the worst IPO ever.
Moderna’s Covid-19 vaccine has started to be rolled out in the UK making it the third version now being administered to people in Britain. Patients in Carmarthenshire in Wales were the first to receive the new vaccine.
Mixed news from cruise operators today, with over-50s specialist Saga saying bookings are up 20% and its vaccinated customers can’t wait to go away. In contrast, Carnival has extended the pause to all operations from US ports to June 30.
Looking at the small caps, Evgen Pharma PLC (LON:EVG) said that research from US university Johns Hopkins highlights the potential of its lead drug against COVID-19. The active ingredient in the company’s treatment, sulforaphane, was found to prevent cell death caused by the virus.
finnCap Group PLC (LON:FCAP) will post an 83% jump in total income for the year ended in March 2021. The broker has benefited from a lively market with plenty of fundraisings, acquisitions and IPOs.
IronRidge Resources Ltd (LON:IRR) has started drilling at the Kineta North gold licence in Ivory Coast. The miner has already observed visible gold in the first hole completed.