FTSE 100 surged higher even as PM’s position seemed to be hanging by a thread

The Market Report with Katie Pilbeam.

FTSE 100 surged higher even as the PM’s position seemed to be hanging by a thread after the resignations of Rishi Sunak and Sajid Javid last night. A recovery by Nasdaq has fired up the market with London’s blue-chip index up 163 points at 7,188.
 
Unilever has been sued by Ben & Jerry’s as it looks to block the sale of its Israeli business to a local licensee. The ice cream producer said it was inconsistent with its values to sell its ice-cream in the occupied West Bank.
 
Canada is to throw out about 13mln doses of the Oxford-AstraZeneca Covid-19 vaccine because it couldn’t find any takers for it either at home or abroad. Canada signed a contract with AstraZeneca in 2020 to get 20mln doses of its vaccine.
 
Motorists were hit by a record monthly hike in petrol prices in June. RAC analysis found the average cost of a litre of fuel at UK forecourts rose 191p from 175p.
 
AO World said it aims to raise £40mln via a placing with City investors and a retail offer via PrimaryBid after reports that its credit insurance had been reduced. The online white goods retailer is selling the new shares at 43p each. 

Argentex’s revenues jumped by almost a quarter in its financial year just ended as activity among its corporate customer base picked up again post-pandemic. Client trading volumes recovered throughout the period as market confidence rebounded from 2021 and volatility remained high  said the currency specialist.
 
Drug developer C4X Discovery has hit the first milestone in a licensing deal with Sanofi after progressing pre-clinical trials for an immunotherapy drug.  The payment is for a drug that could be used to treat autoimmune diseases.