Astrazeneca reverses oil drop to keep FTSE gains

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The FTSE 100 has ended the day higher with gains of 8.2 points, or 0.15%, to 5,539.8, as it shrugged off weakness at Unilever and amongst oil shares as buoyant drug stocks and mining issues pushed higher.

AstraZeneca, which makes cholesterol treatment Crestor, gained 3.02% to 2,830p, after a US court on Friday ruled in favour of Pfizer’s cholesterol drug Lipitor. GlaxoSmithKline joined the advance, adding 1.58% to 1,483p, following the decision that granted patent protection to Pfizer on its blockbuster drug until 2011. It gained further support from news over the weekend regarding its experimental vaccine Cervarix that combats uterine cancer. BHP Billiton and Rio Tinto also stood out as gold bounced back from last week's sell off. BHP Billiton added 1.48% to 893.5p, while Rio Tinto gain...

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