- The FTSE 100 closed down nearly 1% on Friday as investors greeted the announcement of president-elect Joe Biden's $1.9 trillion stimulus package with a degree of scepticism.

In the US the S&P 500 was down 0.5%, though off its lows, to trade at 3,776.43 by 4.30pm UK time.

Engineering and industrial software company AVEVA said revenue increased about 1.5% in the nine months to 31 December 2020, underpinned by a contract renewals in the final quarter of the year.

Its shares rose 6.9% to £38.04.

Pharmaceutical company Indivior lifted its outlook on profit on expectations for higher revenue from drugs to treat opioid dependence. It advanced 9.8% to 115.3p. Tobacco giant British American Tobacco said the Serious Fraud Office had ended its probe into suspicions of corruption activity carried out by the company. The SFO would not be taking no further action, and the company said it was pleased the investigation, launched on 1 August 2017, had been discontinued.

Its shares dipped 0.4% to £27.70

Pharmaceutical giant AstraZeneca said its non-small cell lung cancer drug Imfinzi had been approved in the European Union and the UK for an additional dosing option.

Shares were up modestly to £75.92.

Property group Segro said it had collected 98% of all rents for the year ending 31 December 2020. As at 14 January, the company had received 88% of the £63 million of rent due in respect of UK rents payable in advance for the first quarter of 2021.

Its shares dipped 0.5% to 961p.

Defence company Babcock said underlying profit fell by more than a third in nine months to date as performance in the third quarter was hurt by ongoing weakness in its civil aviation businesses and the pandemic impact.

Its share price fell 16.4% to 220.3p.

Oilfield services provider Petrofac said that no charges have been brought against any group company or any other officers or employees after the Serious Fraud Office announced that a former employee of a Petrofac subsidiary has admitted additional charges under the UK Bribery Act 2010.

Shares dropped 27.5% to 120.8p.

Shopping centre owner Hammerson said that James Lenton would step down as chief financial officer.

Its share price moved lower by 2.5% to 22.7p.

The Renewables Infrastructure Group (TRIG) said it has exchanged contracts to acquire an equity interest of 17.5% in the Beatrice offshore wind farm from Copenhagen Infrastructure Partners.

Shares fell 0.5% to 125.6p.

Meggitt said it expects to deliver full year results for the group in line with guidance and that with the vaccine rollout it remains well placed for a recovery in 2021.

The UK supplier of aerospace, defence and energy markets said it expects underlying operating profit to be in the middle of the £180 million to £200 million range for the full year 2020, subject to audit.

Its shares climbed 0.6% to 430.1p.

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