BUSINESS CLOSE: FTSE 100 slips back; AstraZeneca to profit from jab
BUSINESS CLOSE: FTSE 100 slips back; AstraZeneca to profit from Covid jab; UK job vacancies hit all-time high; Toshiba to split into three
By Mike Sheen For This Is Money
Published: | Updated:
The FTSE 100 has slipped back today, closing some 36.3 points lower at 7,347.9, while the FTSE 250 has fallen 16.5 points to 23,557.5.
In company news, AstraZeneca said it would start making a profit on its Covid-19 vaccine from the next quarter onwards and use the cash to cover the costs of investment in its antibody treatment for the virus.
The pharma giant, which had promised to sell the jab it developed with Oxford University ‘at cost’ during the pandemic, has said it will now ‘progressively’ shift to ‘modest profitability’ as new orders are received.
Meanwhile, Redrow has become the latest housebuilder to shrug off concerns over the ongoing supply chain crisis thanks to booming house prices.
Japan’s Toshiba is set to break up into three independent companies by spinning off its core energy and infrastructure businesses, as well as its device and storage business.
Elsewhere, Britain’s jobs market is experiencing record numbers of vacancies with nearly 2.7million now being advertised, research found today amid rising demand for driving instructors, prison officers and forklift truck drivers.
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Astrazeneca’s total revenue jumped 47% to $9.74bn for the three months to September
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