Market Report: FTSE 100 heads higher on virus and recovery optimism

Headlines from the Proactive UK newsroom.

FTSE 100 jumped 56 points to 6,214 as AB foods provided some cheer while Pfizer’s and BioNTech’s upbeat coronavirus vaccine news yesterday was still bubbling.

Associated British Foods (LON:ABF) said all but eight stores are now open and sales in the past week were up on last year. But coronavirus has taken a toll as £800mln cash flowed out of its Primark retail business during the lockdown.

GVC Holdings PLC (LON:GVC) has supported a review of the UK’s gambling laws. However the Ladbrokes Coral owner added it is “concerned” around a lack of public awareness about existing tools to control problem gambling among customers.

Mitchells & Butlers PLC (LON:MAB) posted a half-year loss after taking a huge property write-down to reflect the impact of the coronavirus lockdown on its pub estate. Mitchells said it expects to have most of its pubs operating again by the end of the month.

Power Metal Resources PLC (LON:POW) has registered additional claims at the Alamo gold project in Arizona. The AIM-listed explorer said the footprint of the project now covers the whole area potentially containing a proximal bedrock gold source.

NQ Minerals PLC (LON:NQMI) said last month’s plant upgrade at the Hellyer Gold Mine in Tasmania has resulted in a 44% increase in production. The enhancements were carried out six months ahead of expectation.

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