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Market report: UK awaits Westminsters' three-tier local lockdown system

FTSE 100 opened lower as it nervously awaits Westminster’s announcement on the three-tier local lockdown system scheduled for today.

British Airways is replacing chief executive Alex Cruz with Aer Lingus boss Sean Doyle. Cruz was criticised by politicians and trade unions after cutting 10,700 jobs despite receiving government support.

The UK hospitality industry is planning to take legal action to stop the current 10pm curfew rules. Trade bodies warned the current state financial support is not enough to support the sector.

AstraZeneca is to start late-stage trials on its coronavirus antibody prevention candidate after receiving nearly half a billion dollars from the US government. It will also investigate whether it works as a treatment.

Among the small caps, Scancell (LON:SCLP) raised £30mln to fund its potential cancer immunotherapies and a possible vaccine for coronavirus. Existing investors can also access an additional £3mln open offer to acquire new stock.

Likewise, Scotgold Resources (LON:SGZ) raised £3mln after placing shares at 110p each. The proceeds will be used to speed up plans to double production at the Cononish gold and silver mine in Scotland.

Meal replacement shakes and bars containing OptiBiotix Health’s (LON:OPTI) technology have been launched in Australia and New Zealand. They are part of a licence agreement signed with weight management firm OptiPharm.

Quick facts: Scancell Holdings PLC

Price: 14.25 GBX

LSE:SCLP
Market: LSE
Market Cap: £102.91 m
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Scancell Holdings awarded funds from Innovate UK for COVID-19 vaccine

Scancell Holdings' (LON:SCLP) Dr Cliff Holloway talks to Proactive London's Katie Pilbeam after being awarded funds from Innovate UK to produce a COVID-19 vaccine. Holloway explains how the company is using their immunotherapies knowledge which is used in their cancer research projects to...

on 1/9/20

2 min read