FTSE 100 edges higher as UK approves AstraZeneca's COVID-19 vaccine

The regulatory approval is a welcome boost for AstraZeneca and the Oxford team, which has been accused of lack of clarity about the results from late-stage trials. The mid-cap FTSE 250 index, considered a barometer of Brexit sentiment, rose 0.1%.

London's FTSE 100 inched higher on Wednesday after Britain approved a coronavirus vaccine developed by AstraZeneca and Oxford University, although surging COVID-19 cases in the country kept investors cautious. The blue-chip FTSE 100 rose 0.1% by 0803 GMT, struggling to break past a fresh 10-month high hit in the previous session.

Drugmaker AstraZeneca rose 1.6%, giving the biggest boost to the index, after the company said it is working with the government to begin vaccinations early next year. The regulatory approval is a welcome boost for AstraZeneca and the Oxford team, which has been accused of lack of clarity about the results from late-stage trials.

The mid-cap FTSE 250 index, considered a barometer of Brexit sentiment, rose 0.1%. British lawmakers will vote on the UK-EU trade deal in parliament later in the day.