FTSE 100 dips 0.3% amid Covid, tapering fears

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The FTSE 100 fell 0.3% to 7,128.39 on Covid concerns and fears of a tapering of support for the global economy as investors awaited the Jackson Hole summit of central bankers.

Recruitment company Hays gained 1.4% to 159.2p as it reported a slight rise in annual profit amid cost cuts and a recovery in the recruitment market.

Polymetal International's revenues rose 12% for the first half of 2021, to $1.2bn, driven by higher metal prices. Its share price fell 1.41% to £15.02.

Pharmaceutical giant AstraZeneca said Forxiga, an oral inhibitor, had been approved in Japan for the treatment of chronic kidney disease in adults with and without type-2 diabetes.

The approval was based on 'positive results from the DAPA-CKD Phase III trial,' the company said.

The pharma giant also said a late-stage trial of its drug to treat Wilson disease met its primary endpoint, demonstrating about three times greater copper mobilisation from tissues than standard-of-care treatments. The announcements saw its share price rise 0.32% to £85.80.

Recruitment company Hays' share price rose 1.27% to 159p as it reported a slight rise in annual profit amid cost cuts and a recovery in the recruitment market.

For the year ended 30 June, pre-tax profit rose 2% to £88.1 million even as net fees slipped 8% to £918.1 million year-on-year.

Building materials company CRH lifted its guidance on annual performance after reporting that first-half profit doubled, driven by a positive underlying backdrop in both North America and Europe. Its share price was up 0.74% at £38.01.

Software company D4t4 Solutions said it continued to perform in line with management's expectations.

Following the acquisition of Prickly Cactus, a data and analytics consultancy on 2 August 2021, the integration of the team was going 'well,' the company said. Its share price, however, fell 1.35% to 365p.

Irish homebuilder Glenveagh Properties' share price rose 2.39% to €1.03 as it swung to a first-half profit following a jump in completion amid a recovery in homebuilding activity.

For the period ended 30 June 2021, pre-tax profit was €2.6 million compared with a loss of €27.3 million a year earlier as revenue jumped 245% to €127.5 million.

Watches of Switzerland Group has appointed William 'Bill' Floydd as chief financial officer (CFO) of the group, succeeding Anders Romberg who has informed the board of his intention to retire after seven years in the role. Its share price dipped 0.59% to £10.08.