ADVFN Morning London Market Report: Tuesday, November 30, 2021

London Open: Shares fall as Modena bosses question vaccines


London stock After Tuesday’s boss slipped on Tuesday’s early deal Modana It casts doubt on the effectiveness of the vaccine against the Omicron covid mutant.

Greenwich Mean Time 0840 o’clock, FTSE 100 It decreased by 1% at 7,036.98.

Sentiment was hit after Moderna CEO Stephane Bancel said: Financial Times Existing vaccines wrestled with Omicron variants and warned that it could take months for pharmaceutical companies to make enough jabs on a scale large enough to make a difference.

CMC market Analyst Michael Hughson said: Pfizer When BioNTech He suggested that who could change the new vaccine fairly quickly. His fairly candid comments have also seen oil prices fall sharply as increasingly volatile markets react with concern to further restrictions and the prospect of lower demand.

“Ahead of the rest of the week, this morning’s market downturn shows that emotions remain very capricious until we have a clearer idea of ​​what’s next for the new variant. ..

“As a result of these latest virus developments, the market is also overturning expectations about when central banks will seek to accelerate normalization measures. When the Federal Reserve meets in mid-December, its Expectations have recently risen that it may accelerate the pace of the tapering program, which is the Federal Reserve’s Jay to US lawmakers to gather clues about central banks thinking about the possibility of this happening. It seems to be available now in the market looking to today’s testimony by Chair Powell. “

of Stock market, Oil giant BP When shell Both plummeted as oil prices fell.

Property group Shaftsberry It revived its progressive dividend policy and withdrew despite reporting improving trends and narrower annual losses. Countryside property After lowering the target for FY 2010, it fell.

Conversely, low-cost carriers EasyJet It rose further after reporting higher-than-expected annual losses and stating that it expects to return to pre-pandemic levels by the end of this fiscal year.

The company posted a £ 1.13 billion pre-tax loss compared to a loss of £ 835m in the previous year and a guidance of £ 1.14 billion to £ 1.18 billion. He also mentioned the increase in transfers and softening of transactions this quarter due to the emergence of a new variant of Omicron Covid.

Media group future Adjusted performance for FY2010 surged after stating that it was expected to “significantly exceed” current expectations.

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European Open: Stocks fall due to vaccine efficiency and Omicron concerns

European stocks fell at the opening after the head of a pharmaceutical company Modana The existing Covid vaccine may have a hard time fighting the Omicron variant of the virus, he said.

The Pan-European STOXX 600 Index fell 1.1% in early trading with all major regional stock exchanges on the same path.

Stephane Bancel, CEO of Moderna, warned that it would take months for pharmaceutical companies to create enough jabs on a scale large enough to make a difference in the new variant.

Bansel said Financial Times The high number of omicron mutations in the spike protein used by the virus to infect human cells, and the rapid spread of mutants in South Africa, may require the current crop of vaccines to be modified next year. Suggested.

“I don’t think there is a world. [the effectiveness] It’s the same level. .. .. I was with Delta, “Bansel said.

“I think it’s going to be a material drop. I don’t know how much because I have to wait for the data. But all the scientists I talked to …” “This is not good. Would be. ” “

With this statement, Bansel is at odds with rivals who said they could change the new vaccine quickly.

Brent crude fell 2.8% to $ 71.40 a barrel, the lowest in 11 weeks, after plunging more than 10% on Friday when concerns about Omicron emerged from South Africa.

Equity News shares shares of a Swedish oil and gas company Landin Energy It fell 9% on reports that it was considering a possible sale.

future It raised expectations for 2022 and surged the share of the media group.

US Closing: Stocks Regain Part of Friday’s Omicron Loss

Wall Street shares closed high on Monday after continued selling on Friday’s Omicron variant.

At the closing price, the Dow Jones Industrial Average rose 0.68% to 35,135.94, while the S & P 500 rose 1.32% to 4,655.27 and the Nasdaq Composite Index rose 1.88% to 15,782.83.

The Dow closed at a high of 236.60 points on Monday, regaining a small loss as traders returned to concerns about the new toxic Covid-19 stock found in South Africa from a Thanksgiving break at the end of last week.

Market participants will monitor trends around the new “variant of concern” on Monday, and there is preliminary evidence that Omicron is at high risk of reinfection. who..

The variants were initially reported to be concentrated in South Africa, but are now found in the United Kingdom, Israel, Belgium, the Netherlands, Germany, Italy, Australia and Hong Kong. Currently, no cases have been detected in the United States.

Travel stocks hit on Monday turned green at the end of the day carnival, Norwegian, American, delta, United When Booking Holdings Bank stocks also rose after benchmark 10-year Treasury yields rose to 1.500%.

On the macro side, signed contracts for existing homes, also known as pending sales, said they surged 7.5% month-on-month in October. National Association of Realtors.. Sales were down 1.4% year-over-year, but it’s worth noting that October 2020 hit a periodic high in the US housing market. Sales were strongest in the Midwest and South, rising 11.8% and 8.0% month-on-month, respectively.

Elsewhere Federal Reserve Chairman Jerome Powell said he expects inflation to continue to ease over the next 12 months as supply and demand levels are balanced. However, the head of the central bank also warned that prices could rise longer than originally thought.

“While it is difficult to predict the sustainability and impact of supply constraints, the factors driving inflation are likely to continue next year,” Powell said. “Furthermore, with the rapid improvement of the labor market, slack is decreasing and wages are rising at a vigorous pace.”

Tuesday Newspaper Summary: Clearview AI, Virgin Atlantic, Accenture, BT

Official data show that exporters are trying to avoid crossing overland via the UK, so the volume of goods shipped directly from Ireland to the EU on the new Brexit busting ferry route has been in the last six months. It has increased by 50%. The figures released by the Irish Maritime Development Authority (IMDO) are part of 32 new ferry services that go directly from the traditional route between Dublin and the United Kingdom to ports such as France’s Le Havre, Cherbourg, Dunkerk and Belgium’s Zeebrugge. Shows a considerable amount of traffic detoured to. – Guardian

A U.S. company that collected photos of people used to recognize clients’ facial recognition from Facebook and other social media sites found £ 17 million after discovering that the Information Commissioner’s Office had committed a “serious breach” of data protection legislation. Facing a fine. Self-proclaimed “the world’s largest face network,” Clearview AI allows customers to compare face data to a database of over 10 billion images collected from the Internet. – Guardian

Virgin Atlantic’s efforts to raise £ 400m in relief funding have been questioned by concerns about new travel regulations, raising concerns among industry observers about the winter outlook. Sir Richard Branson’s airline has been discussing cash lifelines with existing shareholders and lenders in recent weeks after long-term restrictions on travel from the UK to the US have forced it to shelve listing plans. increase. – Telegraph

As part of its commitment to technology services, Accenture will create 3,000 new jobs in the UK over the next three years, half of which will be based outside London. Professional services companies said the new job is being driven by growing client demand for cybersecurity, cloud engineering, data, intelligent operations and platform services. – Telegraph

The government is monitoring the situation at BT as speculation about acquisitions surrounding Britain’s largest telecommunications group grows. Uncertainty increased yesterday after reports that Reliance Industries, an Indian oil communications conglomerate controlled by India’s wealthiest businessman Mukesh Ambani, are considering a bid. – Times

Babcock International has been accused of failing to provide significant training to firefighters prior to the Grenfell Tower fire. In a 2017 disaster survey that killed 72 people last week, we heard that outsourcing groups were more than two years late in completing a review of incident commander training in the event of a fire. – Times

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ADVFN Morning London Market Report: Tuesday, November 30, 2021

Source link ADVFN Morning London Market Report: Tuesday, November 30, 2021

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