FTSE 100 remains firmly higher after weak US jobs report

Fri, 7th May 2021

The FTSE 100 ended the week on a positive note, up by 0.8% to 7,129.71, as a weaker-than-expected US jobs reports led to hopes stimulus and lower rates will be in pace for longer across the Atlantic. By 4.30pm UK time the S&P 500 on Wall Street was up 0.8% to a new record high of 4,233.08 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 gained 1% to £50.94. 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 0.5% to £77.20. 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 1.4% to £19.21. 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 537p, a rise of 20% per share. 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 was up 2.4% to 212p. International stockbroker and corporate advisor Numis has reported a strong performance across all business areas delivering a record half-year revenue performance. It surrendered earlier more significant gains to trade 1.9% higher at 398.5p. Story provided by StockMarketWire.com

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