(RTTNews) – British stocks recovered Monday when the U.S. legalized a new remedy for coronavirus and investors applauded the symptoms of a thaw in tensions between the US and China.
The sense of threat was reinforced after the U.S. FDA announced an emergency use authorization for the use of convalescent plasma to help treat patients with Covid-19.
President Donald Trump welcomed the FDA’s ruling and said the remedy could reduce mortality by 35%.
Meanwhile, a Bloomberg report bringing others close to the issue said Trump’s team was privately seeking to reassure U.S. corporations that they can still do business with the WeChat messaging app in China.
AstraZeneca shares rose 3.3%. The Financial Times reported that Trump’s management is contemplating accelerating the progression of a Covid-19 experimental vaccine through AstraZeneca Plc and Oxford University to bring economics closer to normal.
British Airways owner IAG backed down 0.6% after France announced its goal of adopting the British resolution to impose 14 days on all arrivals from France.
BT Group shares rose 5.6%. Sky News reported that the telecommunications giant had asked Goldman Sachs to update its defense strategy against suitors.
Bunzl rose by almost 3% after the distribution and outsourcing company resumed dividends and increased its profits by 16.6% in the first half.
BP Plc rose 2.8% and Royal Dutch Shell added 3.3% as oil rose amid storms in the Caribbean and the Gulf of Mexico.