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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 -0.08% surged close to 6% in late trade after the news from drugmaker Pfizer /zigman2/quotes/202877789/composite PFE +0.71% and its partner, biotechnology company BioNTech /zigman2/quotes/214419716/composite BNTX +10.15% . 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 +2.75% 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 -1.57% , shopping-center owner British Land /zigman2/quotes/210491538/delayed UK:BLND +1.68% , and conference organizer Informa /zigman2/quotes/207253704/delayed UK:INF -1.18% .

Heavyweight banks and oil explorers sported double-digit gains, with BP /zigman2/quotes/202286639/delayed UK:BP +0.69% and Barclays /zigman2/quotes/208409333/delayed UK:BARC +2.16% each surging 15%. There were losers, too, with miner Fresnillo /zigman2/quotes/201300065/delayed UK:FRES +1.01% and food delivery groups Ocado /zigman2/quotes/207225647/delayed UK:OCDO -0.18% and Just Eat Takeaway /zigman2/quotes/216303066/delayed UK:JET -3.33% skidding by at least 10%.

Outside the FTSE 100, big gainers included catering company SSP /zigman2/quotes/205370875/delayed UK:SSPG -0.68% and cinema operators Everyman Group /zigman2/quotes/209653442/delayed UK:EMAN -2.50% and Cineworld /zigman2/quotes/206525056/delayed UK:CINE +4.09% .

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,123.68
-6.03 -0.08%
Volume: 686,185
May 10, 2021 4:54p
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/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 39.86
+0.28 +0.71%
Volume: 30.48M
May 10, 2021 4:02p
P/E Ratio
20.29
Dividend Yield
3.91%
Market Cap
$220.78 billion
Rev. per Employee
$533,860
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/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 202.35
+18.64 +10.15%
Volume: 7.15M
May 10, 2021 4:00p
P/E Ratio
1,931
Dividend Yield
N/A
Market Cap
$44.37 billion
Rev. per Employee
$283,276
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/zigman2/quotes/203646520/delayed
UK : U.K.: London
109.68 p
+2.94 +2.75%
Volume: 41.77M
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£8.93 billion
Rev. per Employee
£244,046
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/zigman2/quotes/208070069/delayed
UK : U.K.: London
209.85 p
-3.35 -1.57%
Volume: 31.01M
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£10.60 billion
Rev. per Employee
£120,743
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/zigman2/quotes/210491538/delayed
UK : U.K.: London
544.80 p
+9.00 +1.68%
Volume: 2.24M
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
1.54%
Market Cap
£4.97 billion
Rev. per Employee
£1.09M
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/zigman2/quotes/207253704/delayed
UK : U.K.: London
568.40 p
-6.80 -1.18%
Volume: 1.71M
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£8.64 billion
Rev. per Employee
N/A
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/zigman2/quotes/202286639/delayed
UK : U.K.: London
315.70 p
+2.15 +0.69%
Volume: 31.47M
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
4.72%
Market Cap
£63.24 billion
Rev. per Employee
£2.21M
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/zigman2/quotes/208409333/delayed
UK : U.K.: London
185.46 p
+3.92 +2.16%
Volume: 47.27M
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.54%
Market Cap
£30.82 billion
Rev. per Employee
£332,602
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/zigman2/quotes/201300065/delayed
UK : U.K.: London
920.20 p
+9.20 +1.01%
Volume: 1.85M
May 10, 2021 4:35p
P/E Ratio
23.52
Dividend Yield
1.99%
Market Cap
£6.71 billion
Rev. per Employee
N/A
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/zigman2/quotes/207225647/delayed
UK : U.K.: London
1,971.50 p
-3.50 -0.18%
Volume: 1.20M
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£14.60 billion
Rev. per Employee
£125,244
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/zigman2/quotes/216303066/delayed
UK : U.K.: London
6,874.00 p
-237.00 -3.33%
Volume: 110,519
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£10.58 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205370875/delayed
UK : U.K.: London
333.70 p
-2.30 -0.68%
Volume: 950,327
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£2.67 billion
Rev. per Employee
£65,745
loading...
/zigman2/quotes/209653442/delayed
UK : U.K.: London
156.00 p
-4.00 -2.50%
Volume: 25,048
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£145.78 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/206525056/delayed
UK : U.K.: London
96.30 p
+3.78 +4.09%
Volume: 8.37M
May 10, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£1.27 billion
Rev. per Employee
N/A
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