Glaxo sees offer rejected by Human Genome Sciences
19th Apr 2012 14:11
GlaxoSmithKline has confirmed it made an offer on April 11th to purchase US biopharmaceutical firm Human Genome Sciences, but has seen its bid 'rejected without discussion'. HGS said that the UK pharmaceuticals giant had made an offer that did not reflect the "value inherent in the company". H
Read moreFTSE 100 movers: Randgold rises on Mali settlement
10th Apr 2012 15:18
Gold miner Randgold Resources leapt into the top spot after it welcomed the announcement of a political settlement in Mali which will see the lifting of sanctions against the country by its West African neighbours. The stock was bucking the trend though with miners in general leading the decline a
Read moreSector movers: Oil services stocks drop, defensives in demand
10th Apr 2012 15:09
Drugs and utilities stocks were among the few making gains on Tuesday afternoon, as investors sought 'safer', more defensive assets on the back of some gloomy employment data out from the US on Friday. GlaxoSmithKline and AstraZeneca were providing a lift in the pharmaceuticals and biotechnology se
Read moreLondon midday: Miners provide a drag on Footsie
10th Apr 2012 11:53
- Friday's US jobs data dampens sentiment - Rising exports push China into trade surplus - Randgold bounces back after Malian settlement The Footsie had fallen by nearly one whole percentage point by Tuesday lunchtime as investors digested a gloomy jobs report from the US which came out on Friday.
Read moreLondon open: Stocks slip after QE3 hopes fade
4th Apr 2012 08:21
- ECB to hold rates - Pearson and host of ex-div stocks fall - Kentz drops after major shareholder slashes stake UK stocks fell into the red on Wednesday morning after the US Federal Reserve quashed speculation that it would start another round of quantitative easing (QE) in the near-future. US be
Read moreFTSE 100 movers: Aberdeen Asset on top form after Morgan Stanley boost
3rd Apr 2012 15:31
Aberdeen Asset Management, which is hoping to get the investment manager gig at Alliance Trust should the under-siege investment trust outsource its portfolio management, was the top performing blue-chip on Tuesday after Morgan Stanley recommended acquiring the shares. Drugs giant GlaxoSmithKline
Read moreSector movers: Thos. Cook drags travel sector south
3rd Apr 2012 14:37
London has been enjoying a sleepy day, with no major blockbusting moves among the blue-chips. There has been a bit of news-flow affecting the pharmaceuticals sector, with drugs developers Glaxo and Astra both announcing developments. GlaxoSmithKline has received top-line results from seven of the
Read moreLondon midday: Whitbread blows froth off Costa speculation
3rd Apr 2012 11:47
The Footsie moved sideways in the morning session, prompting the suspicion that many traders have made an early start to the Easter break. Food - and drink - for thought Whitbread's Chief Executive Officer, Andy Harrison, moved to damp down speculation about the possibility of the Premier Inn and
Read moreLondon open: Heritage bubbles higher on Iraqi success
3rd Apr 2012 08:51
London has started on the front foot, taking heart from the late surge on Wall Street yesterday, which was sparked by a better-than-expected performance by the Institute of Supply Management's manufacturing index. Drugs firms in focus Drugs giant GlaxoSmithKline has received top-line results fro
Read moreLondon pre-open: Stocks to track US indices higher
3rd Apr 2012 07:25
City sources predict the FTSE 100 will open up 10 points from yesterday's close of 5,875, tracking US stocks higher which rose on the back of better-than-expected US and Chinese manufacturing data. Whitbread has given Finance Director Chris Rogers the job of running its Costa Coffee chain and imp
Read moreGlaxo makes progress on diabetes drug
3rd Apr 2012 07:06
Drugs giant GlaxoSmithKline has received top-line results from seven of the eight 'Harmony' drug development Phase III studies investigating the use of albiglutide in type 2 diabetes. Glaxo said that based on the studies it has performed so far, there is enough information to support progression t
Read moreLondon close: Stocks soar after ISM data
2nd Apr 2012 16:49
- Chinese, UK, US PMIs beat expectations in March - Eurozone PMI disappoints, jobless rate on the up - Pearson leads the rise on the Footsie, miners also in demand After initially paring gains early on, the Footsie surged in afternoon trade on Monday after some better-than-expected manufacturing d
Read moreGlaxo to top up Theravance stake
2nd Apr 2012 14:41
Drugs giant GlaxoSmithKline is to increase its stake in US biopharmaceutical company Theravance. Theravance will issue 10m shares to Glaxo at $21.2887 per share, meaning the UK company will spend $212.9m to up its stake in Theravance from 18.3% to 26.8%. The price per share was a 7.5% premium to
Read moreFTSE 100 movers: Miners jump on Chinese data while financials fall
2nd Apr 2012 14:39
Miners were providing a lift after the better-than-expected manufacturing data from China, which saw the nation's purchasing managers' index rise to an 11-month high of 53.1 in March, from 51 the month before. This boosted hopes for demand in the metals industry with Fresnillo, Rio Tinto and Vedan
Read moreLondon midday: Stocks flat after mixed macro data
2nd Apr 2012 11:36
- Chinese, UK PMIs beat expectations in March - Eurozone PMI disappoints, jobless rate on the up - RBS to dish out dosh to preference shareholders London's blue chips pared earlier gains after some gloomy economic data from Europe. Miners were performing well after better-than-expected manufacturin
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