How FTSE 100 performed after AstraZeneca quarterly earnings release? | UK Market Updates

Be the First to Comment Read

How FTSE 100 performed after AstraZeneca quarterly earnings release? | UK Market Updates

The London markets traded on a mixed note as investors seek fresh catalysts like US jobless claims data and UK GDP data. FTSE 100 traded marginally higher by around 0.04%, driven by an impressive quarterly earnings report from drug-maker AstraZeneca.

Britain’s, Royal Mail shares, went up by around 4.61% after it had forecasted annual profits more than market expectations as the Covid-19 pandemic, boosted its parcel delivery demand and partially offset the temporary closure of stores. The shares were traded at its highest level since October 2018.

Covid-19 vaccine developer AstraZeneca had reported its FY20 results today. It had delivered a surge in final revenues, driven by the robust demand for its oncology drugs. The Company had anticipated growth in its 2021 revenues.

Fashion brand Ted Baker shares dropped by around 4.31% after the Company expected its UK stores to remain temporarily closed till May 2021 due to Covid-19 restrictions. It had reported a significant drop of 47% in the fourth-quarter revenue.

Disclaimer

Speak your Mind