FTSE gains Friday after Labour endures crushing byelection defeat in Hartlepool

The Market Report with Katie Pilbeam.

FTSE made early gains as traders waited for the monthly US jobs reports while the Tories crushing Labour at the Hartlepool by-election was also seen as a positive. London’s blue-chip index rose by 28 to 7,104.

Boris Johnson’s win at Hartlepool was the biggest swing in a by-election towards the government since World War Two said political analysts. The Tories had an almost 7,000 majority.

Today’s the day: the government is finally set to reveal which countries will be on the “green list” in its travel traffic light system. From 17 May, is when the ban on all foreign travel lifts in England and countries will be split into three categories: green, amber and red based on their rate of coronavirus infections, rate of vaccinations, and the danger of any virus variants of concern there.

() is no longer in the sights of Sherborne Investors as the activist investor has sold its 6.01% holding in the British bank. The activist investor took a stake in 2018 and wanted it to rein back investment banking.

British Airways owner IAG called on governments to do more to get people flying again as losses for its latest quarter topped €1bn. Revenue in the three months to end-March 2021 dropped by 79% with passenger income down 88%.

Among the small caps, MGC Pharmaceuticals () posted positive mid-stage trial results on its candidate ArtemiC. The medical spray is being evaluated to treat inflammation caused by COVID-19.

() has received UK approval for its MagnifEye software for accurate reading of diagnostics. It’s being used with a COVID-19 test but the firm is targeting approval for other medical indications.

PLC () has partnered with Togetherall, an online mental health support service. Subscribers of the CBD group’s newsletter will be given free access to the Togetherall platform.