GlaxoSmithKline director sells off shares
22nd Dec 2011 14:42
Jean Stéphenne, president and general manager of Biologicals at GlaxoSmithKline, has sold off 20,000 shares just days after the firm off-loaded its Consumer Healthcare Consumer Healthcare over-the-counter brands. The director, who sold the shares at £14.408, has overseen Biologicals since 1991. E
Read moreLondon close: Footsie jumps late on
20th Dec 2011 16:32
A successful Spanish bond auction and some uplifting confidence data helped lift sentiment and boost the Footsie to its highest level of the day by the close. After trading within a narrow range for the majority of the day, the blue chip index rocketed in afternoon trading, tracking US markets highe
Read moreFTSE 100 movers: Aggreko extends gains, pharmas fall
20th Dec 2011 15:29
Temporary power supplier Aggreko was leading the gains on the FTSE 100 on Tuesday, as investors continue to celebrate yesterday's news that full-year profits should come in slightly ahead of previous guidance. Media stocks were also on the rise with advertising giant WPP among the best performers i
Read moreGlaxo offloads non-core assets in US and Canada
20th Dec 2011 13:20
Pharmaceuticals giant GlaxoSmithKline, which announced back in February its intention to get rid of its Consumer Healthcare OTC brands, has now reached an agreement with Prestige Brands Holdings to sell these non-core US and Canadian brands for £426m cash. The brands include BC, Goody's, Beano, Eco
Read moreSector movers: Astra, Glaxo drag down pharmas
20th Dec 2011 12:52
The pharmaceuticals were on the decline today, dragged lower by sector giant AstraZeneca. AstraZeneca warned this morning that earnings will come in at the lower end of expectations after it took a $381.5m hit from failed drug tests. The company has stopped development of its ovarian cancer treat
Read moreLondon close: Stocks plummet after ECB
8th Dec 2011 16:43
The Footsie took a tumble in the afternoon as initial optimism following the European Central Bank (ECB) decision to cut rates quickly faded after a press conference with its president Mario Draghi. In the last two-or-so hours of trade, London's blue chip index dropped more than 100 points from its
Read moreLondon close: Footsie finishes flat on euro concerns
6th Dec 2011 16:53
The Footsie finished flat on Tuesday, as some worrying comments on the Eurozone by ratings agency Standard & Poor's continued to weigh on sentiment. The index traded within a narrow range of just 51 points today, with investors likely to stay cautious ahead of a pivotal EU summit scheduled at the e
Read moreLondon midday: Footsie in the blue despite S&P warning
6th Dec 2011 12:01
UK equities pushed into positive territory (albeit only slightly) by midday but trade was choppy in the morning session, as a Standard & Poor's warning over Eurozone ratings rattled markets' nerves. Nevertheless, US futures were pointing to a positive start on Wall Street, providing a lift here in
Read moreLondon open: Stocks up on euro hopes, Michael Page tanks
5th Dec 2011 08:17
London's blue chip index has opened higher, building on last week's gains of 7.5%, as a pivotal week in the Eurozone crisis kicks off. KEY WEEK FOR EURO French President Nicolas Sarkozy and German Chancellor Angela Merkel are due to meet in Paris today to discuss the centralised control of Eurozon
Read moreSector movers: Pharmaceuticals fall, GKN drives autos higher
24th Nov 2011 15:44
Pharmaceutical companies, typically defensive stocks, were the worst performers of the day on Thursday. With an increase in risk appetite benefiting the banking and mining sectors today - after some well-received growth data from Britain and Germany - stocks such as Shire, AstraZeneca and GlaxoSmit
Read moreFTSE 100 movers: Miners recover, Vedanta tops the risers
24th Nov 2011 13:41
With metals prices recovering on Thursday after yesterday's falls - on the back of ongoing worries in the Eurozone and some disappointing Chinese manufacturing data - the miners were in demand. Vedanta Resources, Fresnillo, Kazakhmys and Xstrata were all performing well. The sector was making an av
Read moreGlaxo to pay $3bn to settle with US government
3rd Nov 2011 09:03
Drugs giant GlaxoSmithKline is set to pay $3bn to get the US government off its back over the the company's sales and market practices in the past. The final settlement, which is expected to address civil and criminal liabilities, remains subject to negotiation of specific terms and should be fina
Read moreLondon midday: Miners tumble as Japan intervenes
31st Oct 2011 12:15
The miners dragged the Footsie over 1% lower by midday after Japan's intervention into the currency markets and Chinese demand worries spurred a fall in commodity prices. London's blue chip index remains firmly in the red at the 5,641 mark, down from Friday's close of 5,702. In economic news, the g
Read moreFTSE 100 Movers: Eurozone agreement buoys market
27th Oct 2011 16:06
Kazakhstan-based copper miner Kazakhmys was rising after reporting that it should meet all output targets for the full year, despite falling production and grades across all its metal groups in the third quarter. The group, which also has interests in gold, zinc, silver and power generation, said
Read moreBroker tips: Lloyds, Glaxo, Laird
27th Oct 2011 12:53
Credit Suisse has cut its target price for British bank Lloyds by 22.5% ahead of the firm's third quarter statement due on 8 November. The Swiss broker has increased its 2011 underlying loss per share expectations from 0.3p to 0.6p. Also, underlying earnings per share estimates have been cut from 3
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