London pre-open: Stocks to rise on Brexit deal, US stimulus

Dec 29, 2020

(Sharecast News) - London stocks were set to rise at the open on Tuesday as investors cheer the UK's Brexit deal and US stimulus bill.
The FTSE 100 was called to open around 77 points higher at 6,579, although volumes should be light, with many traders set to be away from their desks until after the New Year.

Sentiment was expected to be boosted by news that EU ambassadors had formally approved the Brexit trade deal on Monday and after US President Donald Trump signed a $2.3bn Covid relief and spending package.

Unsurprisingly, corporate news was scarce, but AstraZeneca and Merck's Lynparza has been approved in Japan for the treatment of advanced ovarian, prostate and pancreatic cancers, the UK-based pharmaceutical company said.

The concurrent approvals by the Japanese Ministry of Health, Labour, and Welfare are based on positive results from the PAOLA-1, PROfound and POLO Phase III trials, which each were published in The New England Journal of Medicine.

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London pre-open: Stocks to rise on Brexit deal, US stimulus