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London stocks gain as AstraZeneca, Indivior jump

Published 01/26/2021, 04:31 PM
Updated 01/26/2021, 04:40 PM
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 rises 0.6%, FTSE 250 adds 0.2%

Jan 26 (Reuters) - British stocks rose on Tuesday after
drugmaker AstraZeneca denied reports that its COVID-19 vaccine
was less effective in the elderly population, while Indivior
surged after its former parent withdrew a $1.4 billion legal
claim.
The blue-chip FTSE 100 index .FTSE climbed 0.5%, with
healthcare stocks .FTNMX4530 leading the gains, while the
domestically focussed mid-cap index .FTMC added 0.2%.
Drugmaker AstraZeneca AZN.L gained 0.7% and was the top
boost to the FTSE 100 after denying reports that its COVID-19
vaccine is not very effective for people aged over 65.
German media reports said officials fear the vaccine may not
be approved in the European Union for use in the elderly.
However, limiting gains was a jump in Britain's unemployment
rate to 5.0%, its highest since 2016, as the COVID-19 pandemic
continued to take its toll on the economy, official figures
showed. Britain's Rolls-Royce RR.L tumbled 7% after it downgraded
expectations for how much its engines would fly this year and
warned of a big cash outflow, blaming extra travel restrictions
to stop the spread of a new COVID-19 variant. Indivior INDV.L jumped 10.1% to the top of the FTSE 250
index after it said late on Monday that former parent Reckitt
Benckiser RB.L would withdraw a $1.4 billion claim against the
company.

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