London pre-open: FTSE to inch higher ahead of European data
28th May 2014 07:40
Little change is expected amongst the blue chips this morning, ahead of the release of both German unemployment and Eurozone consumer confidence data, which come amid growing concerns over the stagnant recovery in the euro-area. City sources predict the FTSE 100 will open around three points higher
Read moreWednesday newspaper round-up: Bank of England, GlaxoSmithKline, Banks
28th May 2014 07:23
Bank of England Governor Mark Carney said Tuesday the misdeeds of the financial sector risk undermining public support for free markets and called on bankers to radically improve their behaviour, a sign of simmering frustration in policy circles over a string of misdemeanours. In a forthright speech
Read moreSFO launches criminal investigation into GlaxoSmithKline
28th May 2014 06:41
The Serious Fraud Office (SFO) has opened a criminal investigation into the 'commercial practices' of pharmaceutical group GlaxoSmithKline (GSK). The UK fraud body called on whistleblowers to come forward with any information. "We welcome approaches from anyone with inside information on all our ca
Read moreSector movers: AstraZeneca drags pharma stocks lower on Pfizer drama
19th May 2014 13:52
The pharmaceutical sector was dragged into the red on Monday as shares in AstraZeneca were hit by the news that the board has rejected another offer from US rival Pfizer. AstraZeneca was trading 11.5% lower at 4,270p after turning down a sweetened 5,500p-a-share bid from Pfizer. The new offer, wh
Read moreLondon midday: ITV drops as UK stocks retreat from 14-year high
14th May 2014 11:50
- ITV leads fallers after underwhelming Q1 - Markets pull back from highest level since 1999 - BoE strikes dovish tone in Inflation Report - Compass, Mondi rise strongly after updates techMARK 2,797.20 -0.25% FTSE 100 6,862.96 -0.15% FTSE 250 16,008.81 -0.19% UK stocks were in negative territory o
Read moreGlaxo employee named as chief suspect in China probe
14th May 2014 09:26
Chinese authorities have accused GlaxoSmithKline's former China chief, Mark Reilly, as having ordering employees to commit bribery in order to boost drug sales. Ten months into its probe, China has for the first time made specific allegations against a GSK employee, with police having now passed th
Read moreLondon open: UK stocks retreat from 14-year high, BoE in focus
14th May 2014 08:43
- FTSE 100 pulls back after nearing record - BoE in focus ahead of inflation report - UK employment data due out - Compass unveils 1bn-pound cash return techMARK 2,798.34 -0.21% FTSE 100 6,857.97 -0.22% FTSE 250 16,046.94 +0.05% UK stocks declined on Wednesday morning as investors took profits aft
Read moreWednesday newspaper round-up: Deflation, HSBC, GSK
14th May 2014 07:13
A sustained period of deflation in the Eurozone could derail Britain's recovery, a group of leading economists has warned. Almost half of the economists surveyed by the Centre for Macroeconomics, a joint study between the Bank of England, the National Institute of Economic and Social Research and th
Read moreGSK study of coronary heart disease treatment fails to meet objectives
13th May 2014 07:30
GlaxoSmithKline said its phase III study of darapladib failed to meet the primary endpoint in treating patients with acute coronary syndrome. The study with darapladib, SOLID-TIMI 52, evaluating the efficacy of its investigational Lp-PLA2 inhibitor, did not achieve a reduction of major coronary pro
Read moreWednesday broker round-up UPDATE
7th May 2014 08:35
Balfour Beatty: Jefferies reduces target price from 403p to 233p downgrading to hold. Deutsche Bank cuts target price from 280p to 250p and leaves its hold recommendation unchanged. Numis reduces target price to 260p and retains an add rating. Barclays: Deutsche Bank lowers target price from 320p t
Read moreSector movers: Barclays and Astra drag banks and pharma stocks lower
6th May 2014 15:14
Banking and pharmaceuticals, two sectors which have performed well over recent weeks, were trading firmly lower on Tuesday with heavyweights Barclays and AstraZeneca providing a drag. Shares in Barclays were as much as 5% lower this afternoon after a much worse-than-expected drop in investment bank
Read moreFTSE 100 movers: Lloyds takes top spot after strong Q1, TSB float
1st May 2014 14:32
Domestic lender Lloyds rose into the top spot after saying that underlying profits rose by over a fifth in the first quarter and it continues to expect to apply to regulators in the second half to restart dividend payments. That came as it announced TSB bank is due to float in London before the end
Read moreLondon pre-open: Modest rise expected following FOMC statement
1st May 2014 07:40
The City is set to edge higher early on, tracking gains in the US last night which came after the much anticipated statement from the Federal Reserve, which held steady on its policy course with a few breezily positive remarks leading to a positive finish Stateside. Sources predict the FTSE 100 wi
Read moreGlaxoSmithKline wins US FDA approval for Incruse Ellipta
1st May 2014 07:15
Drugs giant GlaxoSmithKline on Thursday announced that the US Food and Drug Administration (FDA) has approved its Incruse medication known as Ellipta. Ellipta is used as a long-term, once-daily, maintenance treatment of airflow obstruction in patients with chronic obstructive pulmonary disease (COP
Read moreFTSE 100 movers: Barratt Developments in top spot, Shell close behind
30th Apr 2014 14:40
Housebuilder Barratt Developments clawed back yesterday's losses, claiming its place in the top spot. Oil major Royal Dutch Shell rose strongly as first-quarter underlying earnings fell by 3% but beat expectations. Bottom-line earnings, however, were hit by £2.9bn of impairments in its Downstream
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