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Market Report: FTSE gets an injection of optimism from US Remdesivir approval

FTSE 100 got a lift as a first treatment for COVID-19, remdesivir, was approved in the US. London’s leading index added 41 points to 5,826 in early dealings.

Gilead Inc (NASDAQ:GILD) produces remdesivir and it is said to cut COVID-19 recovery times by five days. According to the World Health Organisation, though, it has little to no effect in reducing deaths.

UK retail sales volumes rose by 1.5% in September from August’s level. It was the fifth consecutive month of retail sales growth and above February’s pre-pandemic figures.

Barclays PLC (LON:BARC) posted another profit in the third quarter of 2020 as bad debt provisions eased. Impairment charges in the second half are expected to be much below the first half’s £3.7bn.

Braveheart Investment Group PLC (LON:BRH) has said a new antiviral face mask that can kill will by launched by investee company Pharm2farm by the end of the year.

Remote Monitored Systems, which has agreed to buy P2F, also got a boost. Aminex PLC (LON:AEX) has completed its farm-out deal with ARA Petroleum Tanzania Limited (APT). The company now retains a 25% interest in the Ruvuma asset – which includes the Ntorya gas project and exploration areas – and APT will fund a forward programme.

Shanta Gold Limited (LON:SHG) is to raise a meaty £31mln by way of a placing and a direct subscription of shares priced at a modestly discounted 16.5p each.  Directors of the gold miner are stumping up about £270,000.

Quick facts: Gilead Sciences, Inc.

Price: 59.5 USD

NASDAQ:GILD
Market: NASDAQ
Market Cap: $74.58 billion
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