FTSE 100 recovered some ground after it slumped on Monday on growing omicron concerns and the prospect of further restrictions hitting the global economy. London’s blue-chip index was up 70 points at 7,268 in early trades.
UK public borrowing fell in November as the end of the furlough scheme helped cut spending, but still came in higher than expected. Net borrowing dropped from £18.8bn in October to £17.4bn, but this was higher than the £16bn figure forecast by analysts.
Britain’s hospitality and entertainment sector has called for clarity from the government on whether to expect any further restrictions in the coming days. The PM did not announce any new measures on Monday but said the data would be reviewed on ‘hour by hour’ basis.
Schroders is to acquire a 75% shareholding in Greencoat Capital for an initial consideration of £358mln. Greencoat is one of Europe's largest renewable infrastructure managers with £6.7bn of assets under management.
China Mobile is aiming to raise £6.7bn when it lists in Shanghai. The company had traded its shares on the New York Stock Exchange before it delisted due to rules introduced during the Trump presidency.
Open Orphan has won a £5mln flu human challenge study contract from a biotech company developing an antiviral respiratory vaccine. The majority of revenues should be recognised in 2022.
Keywords Studios has made two more acquisitions, picking up marketing agency Waste Creative and Aussie development studio Wicked Witch Software. Both work for major games publishers and in total will cost Keywords £16.3mln.