FTSE 100 jumped higher as investors responded positively to US Fed action on tapering last night, with a Bank of England decision on UK rates due later today. Not even Omicrom warnings could stop the index rising 74 points to 7,245.
Boohoo warned that is sales could be impacted by Omicron variant and that more customers are returning purchases. Shares fell 20% as the group scaled back its full-year sales guidance.
Social media company Reddit has announced its intention to go public. In August this year, the company said it had raised US$700m in new funding, valuing it at more than US$10bn.
Business groups, especially within the hospitality sector, are piling the pressure on the government to assist firms who are suffering from the spread of the Omicron variant. The UK Hospitality called for business rates to be deferred and VAT discounts extended.
Seeing Machines shares jumped 7% after the company won its largest contract for its FOVIO Driver and Occupant Monitoring System. The contract, which is with a leading German automaker, has an initial lifetime value of A$125mln.
Union Jack Oil hailed good progress at the Wressle field in Lincolnshire, in which the group has a 40% stake. The well there continued to comfortably exceed expectations at an average 666 barrels of crude a day following the upgrade of the gas incineration system.
Shield Therapeutics said it now has access to 40mln commercial patients in the US for its breakthrough iron deficiency treatment. This is because it successfully secured payer coverage for its product, Accrufer, with several large pharmacy benefit managers.