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(Alliance News) - Stock prices in London opened mixed on Thursday as two new studies suggested the Omicron variant of Covid-19 is less likely to result in severe symptoms, giving shares in travel and leisure companies a boost.
New research from Imperial College London has indicated that people with PCR-confirmed Omicron are 15% to 20% less likely to need admission to hospital, and 40% to 45% less likely to require a stay of one night or more.
Scientists in a separate Scotland-wide study called Early Pandemic Evaluation & Enhanced Surveillance of Covid-19 have said Omicron is associated with a two-thirds reduction in the risk of hospital admission compared with Delta.
The FTSE 100 index was down 6.91 points, or 0.1%, at 7,334.75 early Thursday. But the mid-cap FTSE 250 index was up 130.86 points, or 0.6%, at 23,210.95. The AIM All-Share index was up 0.2% at 1,185.58.
The Cboe UK 100 index was up 0.2% at 728.80. The Cboe 250 was 0.5% higher at 20,586.64. The Cboe Small Companies was up 0.1% at 15,017.22.
In mainland Europe, the CAC 40 stock index in Paris was up 0.1%, while the DAX 40 in Frankfurt was 0.3% higher.
In the FTSE 100, British Airways-parent International Consolidated Airlines was the best performer, up 3.3%. Budget carriers easyJet and Wizz Air were among the biggest midcap gainers, up 4.2% and 3.2%, respectively. AIM-listed Jet2 was up 3.3%.
Blue-chip hotel operators Whitbread and InterContinental Hotels Group were up 2.7% and 1.5% respectively.
Flutter Entertainment was the second best performer, up 2.8%. The gambling firm bought Milan-based online gaming operator Sisal from CVC Capital Partners Fund for EUR1.91 billion, in a bid to attain "a gold medal position" in the Italian market.
The Dublin-based company, formerly known as Paddy Power Betfair, said the transaction is likely to complete during the second quarter of 2022 and is expected to be accretive to adjusted earnings in the first 12 months after completion.
Flutter said the deal increases its exposure to an "attractive, fast-growing, regulated online market". The company highlighted Italy is Europe's second largest regulated gambling market and one that has seen online penetration grow from 10% in 2019 to 20% in 2021.
At the other end of the large-caps, Evraz and British American Tobacco were the worst performers, down 3.3% and 2.7%, respectively. The stocks went ex-dividend meaning new buyers no longer qualify for the latest payout.
In the FTSE 250, Balfour Beatty was up 2.5% after the construction firm said its US subsidiary Balfour Beatty Communities has reached a resolution with the Department of Justice.
Balfour Beatty said the resolution resolves the DoJ's criminal and civil investigations into some performance incentive fees improperly claimed by Communities between 2013 and 2019 and related to maintenance work at US military housing installations.
Under the terms of the resolution, Communities has pleaded guilty to one count of fraud and has agreed to the appointment of an independent compliance monitor for a three-year period. Communities cooperated fully with the DoJ in its investigation, Balfour said.
Communities will pay a total resolution amount of USD65.4 million, comprised of USD33.6 million in penalties and USD31.8 million in restitution, Balfour added.
In Asia on Thursday, the Japanese Nikkei 225 index closed up 0.8%. In China, the Shanghai Composite closed up 0.6%, while the Hang Seng index in Hong Kong finished up 0.4%. The S&P/ASX 200 in Sydney ended up 0.3%.
The pound was quoted at USD1.3375 early Thursday, up from USD1.3346 at the London equities close Wednesday.
The euro was priced at USD1.1330, up slightly from USD1.1327. Against the yen, the dollar was trading at JPY114.26, marginally higher from JPY114.22.
Brent oil was quoted at USD75.35 a barrel Thursday morning, up from USD74.74 a barrel at the London equities close Wednesday. Gold stood at USD1,806.26 an ounce, higher against USD1,797.90.
Thursday's economic calendar has US initial jobless claims at 1330 GMT, alongside durable goods orders and personal consumption expenditures due at the same time.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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