FTSE 100 opened brightly, up 29 points to 7,374 as a busy week of results draws to a close. It was a good start for the banking sector, with Natwest and Standard Chartered both up.
AstraZeneca followed its smaller rival GSK by upgrading guidance for the full year after a bumper first half which exceeded expectations. It now expects Covid vaccine revenues to be flat rather than falling by a quarter.
British Airways owner International Consolidated Airlines Group returned to profit for the first time since the pandemic in the second quarter. It posted a €73mln pre-tax profit.
Natwest said it delivered a "strong" performance against a tough economic backdrop. The bank is now expected to hand over £2bn back in dividends.
MGC Pharmaceuticals entered a US$10mln financing agreement with a fund managed by Mercer Street, which is also its largest shareholder. This financing provides MGC with access to capital to execute its business strategy.