The FTSE 100 index has made gains this morning for the first time in three days, on the back of recent news for AstraZeneca and Cairn Energy.
The blue chip stocks index has risen 21 point or 0.36% to 6,042.9 in early thanks mainly to AstraZeneca, the UK's second-largest pharmaceutical firm, which has so far earned 29p or 1% to 919p. This is on the back of news suggesting a competitor cholesterol drug from Pfizer is no longer in development once the patent expires.
Cairn Energy is still climbing for the fourth day in a row, up 43p or 2.09% to £21.00 on the back of last week’s pipeline news for India.
And Cadbury Schweppes is also up 11p or 2.13% to 528.5p and Vodafone Group added 1.5p or 1.13% to 134p.
Shares of BAE Systems are still down 4.5p or 1.15% to 386.25p as the Serious Fraud Office announced last week an investigation into contracts with Saudi Arabia is “ongoing”.
In Asia, stocks generally closed the day down after a report revealed manufacturing in the US has dropped at the same time as the dollar has weakened against regional currencies.
Honda Motor Co. and LG Philips led the drop, 1.5% to 3,990 yen and fell 2.6% to 28,150 won respectively.
Sony also lost 1.5% to 4,550 yen on the back of the falling dollar while Toyota Motor slid 0.3% to 6,960 yen, to the leave the Nikkei 225 index down 18 points or 0.11% to 16,303.5.
And in the US on Friday, the Dow Jones closed down a further 27.8 points or 0.23% to 12,194 on the back of that pressurised dollar while the S&P 500 index dropped 3.92 points or 0.28% to 1,396.7, led in the main by Hershey, the confectioners, down $2.08 or 3.93% to $50.89 and Advanced Micro Devices, which fell 88 cents or 4.08% to $20.69.IFAonline
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till