FTSE 100 Edges Higher as UK Approves AstraZenecas Vaccine

Dec 30 (Reuters) – London’s FTSE 100 inched higher on Wednesday after Britain approved a coronavirus vaccine developed by AstraZeneca and Oxford University, although surging COVID-19 cases in the country kept investors cautious.

The blue-chip FTSE 100 rose 0.1% by 0803 GMT, struggling to break past a fresh 10-month high hit in the previous session.

Drugmaker AstraZeneca rose 1.6%, giving the biggest boost to the index, after the company said it is working with the government to begin vaccinations early next year.

The regulatory approval is a welcome boost for AstraZeneca and the Oxford team, which has been accused of lack of clarity about the results from late-stage trials.

The mid-cap FTSE 250 index, considered a barometer of Brexit sentiment, rose 0.1%. British lawmakers will vote on the UK-EU trade deal in parliament later in the day.

(Reporting by Shivani Kumaresan in Bengaluru; editing by Uttaresh.V)

Source: Reuters

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