UK stocks advanced this morning paced by British Sky Broadcasting Group and PowderJect Pharmaceutica...
UK stocks advanced this morning paced by British Sky Broadcasting Group and PowderJect Pharmaceuticals.
The benchmark FTSE 100 Index rose 8.3 points, or 0.2%, to 3995.7 and the FTSE All-Share Index gained 0.3% to 1933.26 within the first hour of trading this morning.
British Sky Broadcasting Group, BskyB, advanced 15p or 2.2% to 693p, after the company announced its fourth consecutive quarterly gain.
Pharmaceutical companies also saw a rise as the vaccine maker PowderJect Pharmaceuticals advanced with 7.5p or 1.5% to 540p. This came after US' third largest biotechnology company, Chiron, offered to acquire the firm for about £500m.
Things were a bit gloomier for Europe's biggest brewer, Scottish & Newcastle, that shed 3.25p to 360.75p, after it said it had agreed to buy the shares in Sociedade Central de Cervejas, a Portuguese brewer and distributor.
The brewer also agreed to acquire Sociedade da Agua de Luso, a producer of spring water, and will pay a total E342m for both companies.
Overseas, Dow Jones Industrial Average advanced 122.13 points to 8,726.73 overnight.
Nasdaq also added with 21.25 points to 1,541.40 and S&P 500 gained 11.70 points to 945.11.
In Asia, Japan's Nikkei 225 Stock Average dropped 30.86 points or 0.4% to 8,190.26 paced by exporters such as Honda Motor on concern repatriated revenue may decline.
Hong Kong's Hang Seng also shed 31.37 points to 9,124.20.
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