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FTSE 100 jumps 140 points as L&G statement reassures

Published: 07:16 04 Oct 2022 EDT

The Proactive Market Report

London’s blue-chip index was helped by positive performances in the US and Asia.

Greggs reported a slowdown in sales growth in the third quarter. However, with no change in cost inflation, the group kept its full-year guidance unchanged.

Anglo American and EDF Renewables teamed up to create a renewable energy partnership in South Africa. The initial phase of the partnership will involve the launch of 600 megawatts of wind and solar projects.

Legal & General reassured investors that recent swings in financial markets have not impacted its business. The group stressed its annuity portfolio has not experienced any difficulty in meeting collateral calls.

Poolbeg Pharma strengthened the protection around the intellectual property supporting POLB 001, a drug candidate for severe influenza. It expects to receive the formal patent grant "in due course".

Synairgen said a Covid clinical trial by a US government agency returned encouraging data from a phase II evaluation of the group’s lead asset. The National Institutes of Health oversaw the study to assess SNG001’s impact on home-based sufferers of the virus.

Union Jack Oil told investors that net revenue from the Wressle field has now passed US$10mln. The company highlighted that its 40% owned single-well field continues to produce under natural flow with zero water cut.

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