Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
UK stocks rose more than 1% in early trading on Tuesday, paring some of Monday's steep losses, as investors attempt to balance reopening optimism with an accompanying surge in coronavirus infections.
At 0817, the benchmark FTSE 100 index was up 77.76 points, or 1.1%, at 6.922,15, having closed 2.3% lower on Monday, or so-called Freedom Day.
Morrisons slipped 0.5% to 260.7p after Apollo said it was no longer planning to make a bid for the supermarket chain and was instead considering joining a rival £6.3 billion offer led by Fortress.
Fortress, owned by Japan's Softbank, already had been joined by Canada Pension Plan Investment Board and Koch Real Estate Investments for its 254p-per-share offer.
Mining titan BHP advanced 1.4% after after it released a mixed fourth-quarter production report that showed year-on-year declines in iron-ore and copper output, but rises in petroleum and coal production.
Budget airline EasyJet fell 0.6% to 774.59p, having posted another gaping quarterly loss that was albeit a little narrower due to a partial recovery in passenger numbers.
Looking to the fourth quarter, EasyJet said it expected to fly up to 60% of capacity of the fourth quarter of 2019, up from 17% in the third quarter.
Music and audio equipment retailer Focusrite gained 1.4% to £14.253, having forecast a full-year profit 'significantly' ahead of market expectations, thanks to rising revenue and cost cutting.
Focusrite, however, warned of supply constraints and higher freight and shipping costs.
Premium tonic group Fever-Tree dropped 5.1% to £23.25 after it issued a disappointing trading update.
Online wine retailer Virgin Wines rallied 3.8% to 205.05p on guiding for annual operating earnings and revenue 'marginally' ahead of forecasts.
Pub group Young & Co.'s Brewery reversed 0.7% to £15.20 despite announcing that trading continued to be ahead of its expectations since it announced annual results in May.
Flooring company Victoria slid 0.5% to £10.90, even as it narrowed annual pre-tax losses after it boosted sales 6.6% and its margins improved.
Digital-imaging technology group SDI fell 1.4% to 171.15p, having posted a rise in annual profit underpinned by acquisitions and organic sales growth.