- The FTSE 100 clawed back some ground after a round of profit taking following this week's vaccine-inspired rally. By midday the index was down 0.3% to 6,360.50.

Futures markets pointed to modest losses on Wall Street when trading resumes later.

On a busy day for corporate news UK insurer Legal & General announced that it would keep its final dividend payment for 2020 flat due to the impact of the coronavirus pandemic.

It also set out five-year targets ahead of its investor day, aiming to generate £8-9 billion in combined cash and capital over the 2020 to 2024 period.

The insurer's shares were down 2.2% to 231p.

Defence technology company Qinetiq boosted its profit after tax by 19% in the first half of its financial year compared to the previous year, to £74.2 million.

The company increased its full-year guidance, saying it now expected to deliver 'low double-digit revenue growth'.

It share price jumped by 10.4% to 321.2p.

Discount retailer B&M European Value Retail, reported a 95% rise in first half core earnings as its low prices and out-of-town stores chimed with consumers during the Covid-19 pandemic. It shares dipped 0.8% to 497.5p.

The UK's largest free-to-air broadcaster ITV said it expected total advertising revenue to be up in the fourth quarter year-on-year after it rebounded from the pandemic lows. It ticked up 0.3% to 90p on the news.

WH Smith's shares fell 1% to £14.35 as it posted a headline loss of £69 million in the 12 months to the end of August.

Housebuilder Vistry said it was on track to deliver profit before tax at the top end of its expected range of £130-140 million, and plans to resume paying dividends next year.

Its share price jumped by 4.5% to 794.5p.

Power network operator National Grid reported a 78% increase in statutory profit before tax in the six months to the end of September compared to last year, bringing in £720 million.

However, its underlying profit before tax - excluding 'exceptional items, remeasurements and timing' - fell by 9%, and it maintained a cautious outlook for the full year.

National Grid's stock was up 0.6% to 966.2p.

Healthcare services company Mediclinic International reported a £64 million operating profit in the six months to 30 September 2020, marking a 57% fall from the same period in 2019 due to the impact of the Covid-19 pandemic.

The company's shares were up by 0.7% to 337.4p.

Ladbrokes and bwin owner GVC Holdings' share price fell by 1.62% in early trading after it announced a strategy change. It said it would focus entirely on nationally regulated markets for all of its revenue by 2023.

GVC shares traded down 1.8% to £10.01.

Luxury clothing company Burberry saw sales return to growth in October, hinting that the firm was recovering from the impact of the Covid-19 pandemic.

Its shares were up by 1.3% to £16.48.

Engineering company Vesuvius reported a continued improvement in demand in the three months to the end of October, with sales up 7% quarter-on-quarter.

Despite this, its share price was down 0.2% to 478.8p.

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