FTSE 100 edges higher on positive Omicron news

The FTSE 100 was moderately higher Thursday, amid positive initial studies from the UK and South Africa suggesting the omicron Covid-19 variant is less severe than other variants.

The FTSE 100 was up 15.7 points, or 0.21%, to 7,357.35.

Early evidence suggests that there was a 30% to 70% reduction in people infected with Omicron needing hospital treatment compared with other variants, the BBC reported, citing preliminary studies from the UK and South African.

Mining giant BHP was flat at £21.82 after confirming it had received a C$17.78 million payment from Noront as part of a termination payment after the latter ending its ​agreement to support a BHP takeover offer.

Fletcher King swung to a profit in the first half of the year, but the company said it would not declare a dividend, citing a low level of profit and ongoing uncertainty. Its shares were down 6.8% to 41 pence.

Oil and gas engineering services business Plexus said it had been awarded a purchase order for a POS-GRIP surface production wellhead system from an unnamed North Sea operator. Its shares were up 10.7% to 8.30 pence.

Infrastructure investment company International Public Partnerships said it had agreed to acquire a small portfolio of UK private public partnership investments from Amber Infrastructure for £3.1 million. International Public Partnerships rose 0.35% to 168.58 pence.

Alternative capital solutions provider Duke Royalty said it expected cash revenue for its fiscal quarter to be £3.9 million underpinned by new deal activity. Its shares rose 3.4% to 43.33 pence.

Oil and gas development company Empyrean Energy reported narrower first-half losses as costs fell. its shares fell 1.6% to 6.10 pence.

Technology group Windar Photonics said it had received a second volume order under the company's global distribution agreement with Vestas Wind Systems. Its shares rose 10% to 19.00 pence.