FTSE 100 dropped in early trading as cryptos wobbled gain even with strong rebound in retail sales in April. London’s blue-chip index shed 31 to 6,988.
UK retail sales bounced backed following the reopening of non-essential outlets in April. Volumes rose by 9.2% in April compared to the month previously.
Building society Nationwide’s profits nearly doubled last year as it improved interest income and margin. Underlying profits rose to £790mln, though bad debts remained high at £190mln.
The Pfizer vaccine should be effective against the Indian variant of Covid-19 said the boss of its partner BioNTech. A recent study showed the vaccine to be 75% effective against the South African variant and Ugur Sahin said he expected a similar result against the Indian mutation.
Among the small caps, Induction Healthcare PLC (LON: INHC) is acquiring Attend Anywhere, a video consultation provider, for £15mln in cash. It’s the UK market leader in video consultation with an NHS footprint of 200,000 patients.
Sensyne Health PLC (LON:SENS) has signed an agreement with St Luke's University Health Network in Pennsylvania. The AI-led firm will have access to 2.5mln anonymised patient records for research purposes.
Tower Resources PLC (LON:TRP) has received a favourable ruling for its appeal against the UK’s tax authorities. The HMRC denied the oiler credit for input VAT in 2016.