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Market remains up 1.8% by 118 on 6,579 points as gains on morning of Oxford jab rollout are lost

The FTSE 100 stuttered this afternoon after it hit its highest point since the Covid-crash – but then dropped ahead of the impending new national lockdown

London’s top market had gained more than 200 points in its first hours of trading after the Brexit transition period ended on New Year’s Day – although experts said the shot in the arm was more to do with the Oxford University/AstraZeneca jab being administered.

The 3%-plus rise soon after 8am was followed by increases of 1.9% and 1.3% in the French and German main indexes. The FTSE was up 2.7% overall at Midday.

But it dropped back down again after Boris Johnson’s new national lockdown was widely trailed ahead of his 8pm press announcement.

In the morning the markets responded positively to the news that the NHS is starting to roll out the new vaccine against Covid-19 which has been developed by scientists at Oxford University and AstraZeneca.

The vaccine is less effective than the Pfizer jab that has been distributed so far. But each dose is cheaper, and the vaccine can be stored at much lower temperatures. Read from source….