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Nov. 9, 2020, 10:52 a.m. EST

Investors dash for trash as FTSE 100 spikes nearly 6%

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By Steve Goldstein

Investors poured into the beleaguered sectors on Monday in London, after Pfizer said the coronavirus vaccine it is developing has a more than 90% success rate.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.31% surged close to 6% in late trade after the news from drugmaker Pfizer /zigman2/quotes/202877789/composite PFE +0.56% and its partner, biotechnology company BioNTech /zigman2/quotes/214419716/composite BNTX +1.10% . That is the best single day of gains for the FTSE 100 since the 9.1% surge on Mar. 24.

“Following on from the Biden Bounce, the markets have been injected with a big dose of vaccine vigor with investors spotting a ray of light through the clouds, optimistic that the pandemic will finally subside,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

Breathtaking gains of 57% by engine maker Rolls-Royce /zigman2/quotes/203646520/delayed UK:RR -5.07% highlighted a so-called “dash for trash,” with investors snapping up the companies that have struggled during the pandemic. Huge gains also were seen by International Airlines Group /zigman2/quotes/208070069/delayed UK:IAG -5.69% , shopping-center owner British Land /zigman2/quotes/210491538/delayed UK:BLND -1.48% , and conference organizer Informa /zigman2/quotes/207253704/delayed UK:INF -0.72% .

Heavyweight banks and oil explorers sported double-digit gains, with BP /zigman2/quotes/202286639/delayed UK:BP +1.82% and Barclays /zigman2/quotes/208409333/delayed UK:BARC +2.95% each surging 15%. There were losers, too, with miner Fresnillo /zigman2/quotes/201300065/delayed UK:FRES -3.15% and food delivery groups Ocado /zigman2/quotes/207225647/delayed UK:OCDO +0.24% and Just Eat Takeaway /zigman2/quotes/216303066/delayed UK:JET -2.74% skidding by at least 10%.

Outside the FTSE 100, big gainers included catering company SSP /zigman2/quotes/205370875/delayed UK:SSPG -1.98% and cinema operators Everyman Group /zigman2/quotes/209653442/delayed UK:EMAN -4.67% and Cineworld /zigman2/quotes/206525056/delayed UK:CINE -6.89% .

/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,630.52
-20.36 -0.31%
Volume: 997,627
March 5, 2021 4:59p
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/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 34.39
+0.19 +0.56%
Volume: 30.59M
March 5, 2021 4:02p
P/E Ratio
20.11
Dividend Yield
4.54%
Market Cap
$191.81 billion
Rev. per Employee
$533,860
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/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 96.20
+1.05 +1.10%
Volume: 1.69M
March 5, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$23.16 billion
Rev. per Employee
$92,777
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/zigman2/quotes/203646520/delayed
UK : U.K.: London
108.55 p
-5.80 -5.07%
Volume: 54.86M
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£9.08 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208070069/delayed
UK : U.K.: London
203.90 p
-12.30 -5.69%
Volume: 41.99M
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£10.14 billion
Rev. per Employee
£120,743
loading...
/zigman2/quotes/210491538/delayed
UK : U.K.: London
507.00 p
-7.60 -1.48%
Volume: 2.14M
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
1.66%
Market Cap
£4.70 billion
Rev. per Employee
£1.09M
loading...
/zigman2/quotes/207253704/delayed
UK : U.K.: London
555.00 p
-4.00 -0.72%
Volume: 3.30M
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£8.33 billion
Rev. per Employee
N/A
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/zigman2/quotes/202286639/delayed
UK : U.K.: London
318.80 p
+5.70 +1.82%
Volume: 74.81M
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
4.77%
Market Cap
£64.35 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/208409333/delayed
UK : U.K.: London
171.58 p
+4.92 +2.95%
Volume: 90.09M
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.58%
Market Cap
£29.76 billion
Rev. per Employee
£332,602
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/zigman2/quotes/201300065/delayed
UK : U.K.: London
886.20 p
-28.80 -3.15%
Volume: 1.90M
March 5, 2021 4:35p
P/E Ratio
22.65
Dividend Yield
2.11%
Market Cap
£6.53 billion
Rev. per Employee
N/A
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/zigman2/quotes/207225647/delayed
UK : U.K.: London
2,088.00 p
+5.00 +0.24%
Volume: 1.47M
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£15.42 billion
Rev. per Employee
£125,244
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/zigman2/quotes/216303066/delayed
UK : U.K.: London
6,382.00 p
-180.00 -2.74%
Volume: 216,821
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£9.51 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205370875/delayed
UK : U.K.: London
346.40 p
-7.00 -1.98%
Volume: 1.07M
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£1.86 billion
Rev. per Employee
£65,745
loading...
/zigman2/quotes/209653442/delayed
UK : U.K.: London
143.00 p
-7.00 -4.67%
Volume: 44,930
March 5, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£130.29 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/206525056/delayed
UK : U.K.: London
104.75 p
-7.75 -6.89%
Volume: 13.30M
March 5, 2021 4:40p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£1.44 billion
Rev. per Employee
N/A
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