29 December 2020 | 08:32am
StockMarketWire.com - UK stocks opened higher, led by AstraZeneca on expectations that its coronavirus vaccine could be approved for use as soon as Tuesday.
At 08:30, the benchmark FTSE 100 index was up 109 points, or 1.68%, at 6,611.64.
Drugmaker AstraZeneca was among the biggest gainers, up 4% to £75.52, on reports that health regulators in the UK could announce their decision to approve the vaccine for use on Tuesday.
AstraZeneca also reported that it had won approval in Japan for a drug to treat three cancers.
Insurance company Admiral climbed 3% to £30.11 after reaching an agreement to sell Penguin Portals and Preminen comparison businesses to RVU, the comparison division of ZPG, for £508 million.
The owner of Uswitch is close to unveiling a takeover of Confused.com in a deal that would unite two of Britain s biggest online price comparison sites.
Sky News has learnt that a division of ZPG - which also owns the property portal Zoopla - could announce the purchase of Confused.com from Admiral Group, the London-listed insurer, as soon as this week.
One source said it could be unveiled as early as Tuesday morning, when the London Stock Exchange resumes trading after a four-day break.
Precise details of the deal, including the price that Admiral had obtained for Penguin Portals - the division within which Confused.com sits - were unclear on Monday.