FTSE 100 opens higher ahead of US jobs data

Fri, 7th May 2021

The FTSE 100 opened up 27.5 points this morning, as investors looked to the US jobs report due later Friday for further clues on the global economic recovery. The blue-chip index rose to 7,103.67 as local and mayoral election results from across the UK were gradually announced. InterContinental Hotels reported a fall in revenue in the first quarter of the year owing to the pandemic impact but said there were signs of improving demand led by the Americas and Greater China. It opened up just shy of 1%, to a share price of £50.90. Pharma giant AstraZeneca said its Imfinzi drug and tremelimumab with chemotherapy demonstrated a meaningful overall survival benefit in a late-stage non-small cell lung cancer clinical trail. Its share price rose by 35 points to £77.15. The Weir Group has announced that it has priced the offering of $800m (£575m) aggregate principal amount of 2.20% Sustainability-Linked Notes due 13 May 2026. Its share price climbed to £19.03 shortly after markets opened. St. Modwen Properties has announced that it received a non-binding conditional proposal from Blackstone Funds, advised by affiliates of The Blackstone Group, regarding a possible cash offer of 542 pence per share for the entire issued and to be issued share capital of St. Modwen. Its share price was bumped up to 534p per share, a rise of almost 20%. British-airways owner International Consolidated Airlines reported narrower losses in the first quarter of the year as cost cuts offset a slump in passenger revenue owing to the pandemic impact. Its share price shrank slightly to 205.6p. Special situation investment opportunities company Adams said it had purchased a 0.21% stake, or 8 million shares, in Seeing Machines for £908,000. Its share price sank slightly to 7.1p per share. International stockbroker and corporate advisor Numis has reported a strong performance across all business areas delivering a record half-year revenue performance. It opened up 7% to 418.35p per share. Meanwhile, Nigeria focused oil and gas exploration company San Leon has appointed John Brown as an independent non-executive director. It opened flat, at 39.16p per share. Story provided by StockMarketWire.com

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