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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 +0.27% surged close to 6% in late trade after the news from drugmaker Pfizer /zigman2/quotes/202877789/composite PFE +0.74% and its partner, biotechnology company BioNTech /zigman2/quotes/214419716/composite BNTX -0.88% . 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 -0.22% 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 -0.19% , shopping-center owner British Land /zigman2/quotes/210491538/delayed UK:BLND -0.07% , and conference organizer Informa /zigman2/quotes/207253704/delayed UK:INF -0.62% .

Heavyweight banks and oil explorers sported double-digit gains, with BP /zigman2/quotes/202286639/delayed UK:BP +0.99% and Barclays /zigman2/quotes/208409333/delayed UK:BARC -0.23% each surging 15%. There were losers, too, with miner Fresnillo /zigman2/quotes/201300065/delayed UK:FRES -0.47% and food delivery groups Ocado /zigman2/quotes/207225647/delayed UK:OCDO -2.05% and Just Eat Takeaway /zigman2/quotes/216303066/delayed UK:JET -0.72% skidding by at least 10%.

Outside the FTSE 100, big gainers included catering company SSP /zigman2/quotes/205370875/delayed UK:SSPG +0.09% and cinema operators Everyman Group /zigman2/quotes/209653442/delayed UK:EMAN 0.00% and Cineworld /zigman2/quotes/206525056/delayed UK:CINE -2.25% .

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,486.67
+20.07 +0.27%
Volume: 445,496
Nov. 25, 2022 4:57p
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/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 49.21
+0.36 +0.74%
Volume: 6.76M
Nov. 25, 2022 1:10p
P/E Ratio
9.48
Dividend Yield
3.25%
Market Cap
$276.23 billion
Rev. per Employee
$1.26M
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/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 154.85
-1.38 -0.88%
Volume: 348,316
Nov. 25, 2022 1:00p
P/E Ratio
3.46
Dividend Yield
0.00%
Market Cap
$37.58 billion
Rev. per Employee
$6.61M
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/zigman2/quotes/203646520/delayed
UK : U.K.: London
90.85 p
-0.20 -0.22%
Volume: 15.69M
Nov. 25, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£7.60 billion
Rev. per Employee
£264,977
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/zigman2/quotes/208070069/delayed
UK : U.K.: London
134.14 p
-0.26 -0.19%
Volume: 8.08M
Nov. 25, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£6.65 billion
Rev. per Employee
£232,926
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/zigman2/quotes/210491538/delayed
UK : U.K.: London
405.70 p
-0.30 -0.07%
Volume: 2.51M
Nov. 25, 2022 4:35p
P/E Ratio
6.81
Dividend Yield
5.72%
Market Cap
£3.76 billion
Rev. per Employee
£513,482
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/zigman2/quotes/207253704/delayed
UK : U.K.: London
608.80 p
-3.80 -0.62%
Volume: 1.85M
Nov. 25, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
0.49%
Market Cap
£8.67 billion
Rev. per Employee
N/A
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/zigman2/quotes/202286639/delayed
UK : U.K.: London
488.35 p
+4.80 +0.99%
Volume: 24.86M
Nov. 25, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
4.07%
Market Cap
£88.37 billion
Rev. per Employee
£2.66M
loading...
/zigman2/quotes/208409333/delayed
UK : U.K.: London
159.06 p
-0.36 -0.23%
Volume: 11.97M
Nov. 25, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
3.93%
Market Cap
£25.22 billion
Rev. per Employee
£297,978
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/zigman2/quotes/201300065/delayed
UK : U.K.: London
895.40 p
-4.20 -0.47%
Volume: 389,220
Nov. 25, 2022 4:35p
P/E Ratio
37.08
Dividend Yield
2.46%
Market Cap
£6.60 billion
Rev. per Employee
£93,691
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/zigman2/quotes/207225647/delayed
UK : U.K.: London
649.80 p
-13.60 -2.05%
Volume: 1.41M
Nov. 25, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£5.30 billion
Rev. per Employee
£126,159
loading...
/zigman2/quotes/216303066/delayed
UK : U.K.: London
1,831.80 p
-13.20 -0.72%
Volume: 264,286
Nov. 25, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
£3.93 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205370875/delayed
UK : U.K.: London
216.70 p
+0.20 +0.09%
Volume: 973,814
Nov. 25, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£1.72 billion
Rev. per Employee
£59,885
loading...
/zigman2/quotes/209653442/delayed
UK : U.K.: London
90.50 p
0.00 0.00%
Volume: 11,060
Nov. 25, 2022 4:35p
P/E Ratio
29.19
Dividend Yield
N/A
Market Cap
£82.52 million
Rev. per Employee
£61,172
loading...
/zigman2/quotes/206525056/delayed
UK : U.K.: London
4.77 p
-0.11 -2.25%
Volume: 5.85M
Nov. 25, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£65.53 million
Rev. per Employee
N/A
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