HSBC initiates coverage of European pharmaceuticals Astra, GSK, Hikma and Shire
26th Jun 2015 07:51
HSBC initiated coverage of the European pharmaceuticals, saying the re-rating over the last few years looks set to continue. Although some pharma companies, such as AstraZeneca, still face generic pressure for drugs that contribute significantly to their top and bottom lines, the majority are largel
Read moreBoris Johnson to suggest creating a "megafund" for biotech firms
25th Jun 2015 11:53
London mayor Boris Johnson on Thursday suggested that banks, investors and drug multinationals should condier creating a £10bn "megafund" to help biotech firms in the country to compete with US rivals. Johnson made the suggestion on the occasion of a conference in London that brought together the le
Read moreGSK to sell meningitis vaccines to Pfizer Ireland
22nd Jun 2015 12:49
GlaxoSmithKline said on Monday that it is selling its meningitis vaccines Nimenrix and Mencevax to Pfizer Ireland Pharmaceuticals - a subsidiary of Pfizer Inc - for €115m. The sale follows commitments given to the European Commission and other regulators in connection with the merger control cleara
Read moreChina deports British investigator and wife caught in GSK corruption case
17th Jun 2015 15:44
The British investigator linked to a corruption case involving GlaxoSmithKline (GSK) has been deported, along with his wife, by Chinese authorities, following his release from jail. Peter Humphrey and Yu Yingzend were put on a flight to London from Shanghai, after being incarcerated for illegally ha
Read moreLondon close: FTSE bounces off five-month low after late rally
16th Jun 2015 17:08
UK stocks managed to claw their way back to finish flat on Tuesday as investors sought out bargains after markets dropped to a five-month intraday low. Stocks in the tobacco, housebuilding and pharmaceutical sectors extended gains late on, while Royal Mail rebounded after earlier weakness, making up
Read moreFTSE 100 movers: Tobacco stocks surge on broker comments, miners lower
16th Jun 2015 12:58
London markets hit a five-month low on Wednesday, driven by continued Greece concerns, a sell-off in Chinese markets and weakness in the mining, construction and technology sectors. As of 14:00 BST, the FTSE 100 was trading 0.42% lower at 6,683. British American Tobacco and Imperial Tobacco led the
Read moreLondon midday: UK stocks at lowest since January as Greece hits risk appetite
16th Jun 2015 12:09
London's FTSE 100 dropped below the 6,700 level for the first time in five months on Tuesday as ongoing worries about Greece and a sell-off on Chinese markets dampened risk appetite. The Footsie was down 0.63% at 6,668.31 by midday with the heavyweight mining sector providing a drag. The index has
Read moreLondon open: UK stocks drop to five-month low ahead of CPI data
16th Jun 2015 08:19
UK stocks dropped into the red for a third straight day on Tuesday on the back of ongoing concerns about Greece, a sell-off in China and caution ahead of inflation data. The FTSE 100 was trading 0.55% lower at 6,673.49 early on, after hitting a three-month closing low of 6,710.52 on Monday. The ind
Read moreLondon pre-open: Stocks to pause ahead of UK inflation data
16th Jun 2015 07:35
UK stocks are expected to open more or less flat after plunging to a three-month low on the back of continuing concerns over Greece. City sources predict the FTSE 100 will open eight points lower than Monday's close of 6,710.52. This was the index's lowest finish since 10 March when it settled at 6,
Read moreGlaxoSmithKline could reportedly be targeted by Roche, Johnson & Johnson
16th Jun 2015 07:11
Pharmaceuticals giant GlaxoSmithKline could reportedly become the latest takeover target in the industry. According to the Daily Mail, market participants are speculating that the company may face an approach from Switzerland's Roche or US company Johnson & Johnson at about 1900p per share. Such a
Read moreLondon open: FTSE opens lower amid Greek concerns
12th Jun 2015 08:46
The FTSE was trading around 20 points lower early on amid increased concerns about the future of the Greek economy after the International Monetary Fund (IMF) has pulled the technical team that was negotiating with Athens. The IMF on Thursday said there were still "major differences" to be overcome
Read moreLondon pre-open: FTSE to start lower after IMF negotiators leave Brussels
12th Jun 2015 07:31
London-listed stocks are set to begin Friday's session in negative territory after it was revealed the International Monetary Fund (IMF) has pulled the technical team that was negotiating with Athens. City sources predict the FTSE 100 will open around 21 points lower than Thursday's close of 6,846.7
Read moreGlaxoSmithKline receives licence approval recommendation for asthma treatment drug
12th Jun 2015 07:08
Pharmaceutical and healthcare giant GlaxoSmithKline announced on Friday that the advisory committee of the US Food and Drug Administration (FDA) has recommended its Mepolizumab drug be granted a biologics licence application (BLA) for use in the treatment of adults with severe asthma. However, it vo
Read moreWednesday newspaper round-up: Referendum, Bank levy, Mansion House
10th Jun 2015 07:11
The Government should hold a referendum on Britain's EU membership as soon as possible to end the uncertainty that the looming vote creates for businesses, according to one of the world's leading bond investors. The Pacific Investment Management Company (Pimco) said it was important for the UK to ge
Read moreLondon close: Stocks hit two-week high as blue chips rise
22nd May 2015 16:36
UK stocks reached a two-week high on Friday on the back of decent performances from heavyweights Vodafone and HSBC, along with gains in defensive categories such as pharmaceuticals. Markets across Europe were struggling to push higher on concerns about Greece, while Wall Street opened in the red on
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