Oxford Biomedica fourth manufacturing suite approved, BHP buys Shenzi interest from Hess
London open
The FTSE 100 is expected to open flat on Tuesday, having closed up 0.69% at 5,942.94 on Monday.
Stocks to watch
Oxford Biomedica said it had received government approval for a fourth manufacturing suite within its Oxbox facility which will be used to develop a potential Covid-19 vaccine. Approval was given by the UK Medicines & Healthcare products Regulatory Agency (MHRA), the company said on Tuesday. “Both this suite and the suite approved in September …at present will be dedicated to the manufacture of a Covid-19 viral vector vaccine candidate,” Oxford said.
BHP has signed an agreement with Hess Corporation to acquire an additional 28% working interest in the six-lease Gulf of Mexico development Shenzi, it announced on Monday. The FTSE 100 company said it had agreed to a purchase price of $505m. It said the acquisition would bring its working interest to 72%, and immediately add around 11,000 barrels of oil equivalent per day of production.
Newspaper round-up
President Trump returned to the White House last night where he climbed the steps of the south portico and took off his mask in a dramatic gesture to underline his message to Americans not to be afraid of the coronavirus. Although still suffering from the virus and likely to be infectious for another week, Mr Trump, 74, insisted on being discharged after three nights in the Walter Reed medical centre, claiming that he was “better” and “maybe immune”. - The Times
MPs could signal growing discontent with the government’s coronavirus restrictions at key votes on the regulations this week, amid growing calls for the government to publish the scientific advice behind the 10pm curfew on pubs and restaurants in the UK. Conservative and Labour MPs have signalled they could withdraw backing for implementing the rule of six regulation and the curfew at votes expected this week. - Guardian
Chanel has bought its showpiece shop on Bond Street in a vote of confidence for central London. The fashion group has agreed to pay about £310 million for the boutique - £70 million more than the £240 million asking price. - The Times
John McAfee, the antivirus software entrepreneur, has been charged with evading taxes after failing to report millions earned promoting cryptocurrencies, consulting work, speaking engagements and the sale of the rights to his life story for a documentary, US prosecutors have alleged. McAfee hid assets from the Internal Revenue Service, including real estate property, a vehicle and a yacht, in the names of other people, prosecutors said. - Guardian
US close
Wall Street stocks had their strongest session in weeks on Monday as market participants continued to track both stimulus talks and the health of the President.
At the close, the Dow Jones Industrial Average was up 1.68% at 28,148.64, while the S&P 500 was 1.80% firmer at 3,408.63 and the Nasdaq Composite saw out the session 2.32% stronger at 11,332.49.
The Dow closed 465.83 points higher on Monday, reversing losses recorded on Friday after Donald Trump and the First Lady tested positive for the coronavirus.
Stimulus talks were in focus over the weekend and at the open after House Speaker Nancy Pelosi said on Friday that Republicans and Democrats were working "on the text" to move "quickly" to facilitate an agreement.
Presumably tweeting from his bed at the Walter Reed National Military Medical Center, Trump pressured Congress to pass a deal on Saturday, demanding that lawmakers "WORK TOGETHER AND GET IT DONE".