Stock movements are in mixed trading this morning as AstraZeneca has announced advances in some of i...
Stock movements are in mixed trading this morning as AstraZeneca has announced advances in some of its drugs but Cable & Wireless is falling again.
The FTSE 100 index gained 34.6 points or 0.9% to 3968.5 in early trading, led by AstraZeneca's gain of 22p or 1% to £23.12. Europe's second-largest drugmaker said its experimental medicine Exanta prevented blood clots in two studies.
That said, Cable & Wireless is still struggling, having already plunged 43% yesterday. C&W has so far lost 3.75p or 7.9% to 44p.
Laird Group, maker of electronic components declared profits before special items will be better than anticipated, pushing share value up 9.5p or 5.6% to 178.5p.
Activity in the US was unsurprisingly slow, particularly as United Airlines yesterday afternoon announced the firm would have to go into liquidation.
The Dow Jones fell 172.36 points or 2% to 8473.41 while the Standard & Poor's 500 fell 20.23 points or 2.2% to 892.00 and the Nasdaq lost 55.30 points or 3.9% to 1367.14.
Yesterday's rating cut for IBM has a knock effect in Asia too, as NEC Corp and Taiwan Semiconductor Manufacturing supply the parts to make computer hardware.
Japan's Nikkei 225 index lost 0.3% to 8804.52 by close of business, followed by Taiwan's TWSE index which fell 1.4% as Taiwan Semiconductor are feeling the pinch and chip orders are dropping.
South Korea's Kospi also index lost 0.9%, paced by Trigem Computer and Samsung Electronics, while Venture Corp led computer-stock declines in Singapore.
Indices in Australia, China, Hong Kong, New Zealand and the Philippines all dropped, while Singapore's Straits Times Index gained.
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