Astrazeneca to gain rights to Almirall's respiratory franchise
30th Jul 2014 08:16
Astrazeneca has struck a deal with drug developer Almirall for the rights to the Spanish group's respiratory franchise. Under the agreement, which includes an initial consideration of $875m, the FTSE 100-listed company will gain the rights for the development and commercialisation of Almirall's ex
Read moreSector movers: Weak results, outlook from Glaxo sink pharma stocks
23rd Jul 2014 14:17
A slump in the share price of GlaxoSmithKline dragged the pharmaceuticals and biotechnology sector into the red on Wednesday as the drugmaker disappointed with a drop in quarterly sales and its full-year outlook. The company announced at midday that it has slashed its 2014 outlook as it reported a
Read moreBroker tips: GlaxoSmithKline, AstraZeneca, Housebuilders
18th Jul 2014 12:23
Panmure Gordon said it is "not expecting fireworks" from GlaxoSmithKline's (GSK) second-quarter results due out next Wednesday. "In light of our recent downgrade to forecasts due to exchange rate headwinds, we are expecting another tough quarter. China has not washed through completely either and g
Read moreExane BNP Paribas expects Pfizer to return with better offer for Astra
18th Jul 2014 11:16
Exane BNP Paribas sees at least a 50% chance that US pharmaceutical giant Pfizer will return with a sweetened offer for UK rival AstraZeneca (AZN) following its failed takeover earlier this year. The bank said it expects another approach in November, when restrictions under takeover panel rules exp
Read moreCalls for US tax avoidance crackdown rock Shire
16th Jul 2014 16:16
Shares in takeover target Shire took a beating on Wednesday as US lawmakers demanded a crackdown on US companies basing themselves abroad to cut their tax bills. The British drug company's stock closed 79p down at 4786p in London as US Treasury Secretary Jacob Lew urged leaders of the congressional
Read moreMonday broker round-up UPDATE
14th Jul 2014 10:11
Abcam: Numis cuts target price from 510p to 490p and stays with its add rating. ARM Holdings: Credit Suisse reduces target price from 1200p to 1125p and maintains an outperform rating. AstraZeneca: Jefferies reduces target price from 4850p to 4790p maintaining a hold recommendation. BP: Credit Su
Read moreSunday newspaper round-up: Experian, Sports Direct, Shire
13th Jul 2014 12:24
Sir John Peace will suffer his third shareholder rebellion in three months this week when investors in Experian revolt over pay and succession plans at the credit checking company, the Sunday Times said. Peace will then have suffered rebellions at each of the three FTSE 100 companies he chairs. At B
Read moreLiberum picks prime targets as UK M&A plays catch up
9th Jul 2014 16:00
UK mergers and acquisitions activity is stubbornly subdued, but broker Liberum says this is not expected to persist and has polled its sector analysts to qualitatively identify the most likely targets. Global M&A hit a post crisis record at $945bn in the second quarter of the year, showing that co
Read moreWoodford reveals top 10 holdings dominated by pharma and tobacco
8th Jul 2014 13:21
Highly influential fund manager Neil Woodford has revealed the top 10 stocks in his new £1.6bn Woodford Equity Income fund, including new favourites Imperial Innovations and Rolls-Royce. The university technology spin-out group and the aircraft engine-maker did not feature in the manager's previous
Read moreLondon close: FTSE ends lower as investors await Fed Reserve minutes
7th Jul 2014 16:59
- FTSE closes down 42.54 at 6,823.51 - Oil, housing stocks fall - Investors await Fed Reserve meeting techMARK 2,843.77 -0.42% FTSE 100 6,823.51 -0.62% FTSE 250 15,892.30 -0.98% As had been widely anticipated, the UK market headed lower in today's session, tracking a fairly steady downwards path t
Read moreFTSE 100 movers: Weir rises after broker upgrade
7th Jul 2014 15:57
Drugs giant AstraZeneca rose strongly in today's session on reports investor Neil Woodford has selected the group "as the single biggest investment for his new fund", according to The Daily Telegraph, which said 8.2% of the £1.6bn fund had been put towards the group. Engineering group Weir was a h
Read moreWednesday newspaper round-up: National Grid, London property, Sports Direct...
2nd Jul 2014 07:57
Billions of pounds of subsidies could be wasted, according to government-appointed experts who have accused National Grid of exaggerating the risk of blackouts. The energy group this week unveiled new subsidies for power stations to be kept on standby to keep Britain's lights on. These "retainer" pa
Read moreAstraZeneca Chief buys round of shares worth £2m
1st Jul 2014 16:28
AstraZeneca's Chief Executive Officer, Pascal Soriot, has spent £2m on shares, the drugs giant announced on Tuesday. The director, who has held his role since October 2012, paid 4,345p for each of the 46,200 shares. It follows another large purchase made by a member of the Astra board last week,
Read moreAstraZeneca CFO adds £868,000-worth of shares
26th Jun 2014 16:06
The Chief Financial Officer of drug maker AstraZeneca has shown his faith in the group following a setback on Thursday, which saw an advisory committee to the US Food and Drug Association vote against the accelerated approval of its ovarian cancer treatment. Marc Dunoyer, who joined the company in
Read moreFTSE 100 movers: LSE and housebuilders lead as Barclays slumps
26th Jun 2014 15:53
LSE is spending $2.7bn in cash on buying Frank Russell Company in a deal that will combine the group's Russell and FTSE index businesses. Investors seemingly gave a thumbs up to the acquisition with shares rising strongly despite the announcement that it will be part-financed by a $1.6bn rights issu
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