Shire headache for FTSE

clock

Having charged across the 5,000 mark yesterday, the FTSE 100 index has shed a couple of points this morning to 4,987.7, paced by Shire Pharmaceuticals Group.

Drugmaker Shire has fallen 60.5p or as much as 9.5% to 581.50p, after Canadian regulators ordered the company to withdraw its biggest selling drug, Adderall XR, as a result of its link to at least 20 deaths. Barclays bank has also dropped 14p to 580p in morning trading even though the lender posted a 14% increase in second-half profit as investment-banking income rose and loan loss provisions declined. Imperial Chemical Industries meanwhile has gained 20.50p or 8% to 266.50p. In Japan the Nikkei 225 Stock Average raced to a seven-month high, advancing 0.7% to 11,553.56 at its close ear...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

DIY investment market hits £392bn; top five platforms still dominant

DIY investment market hits £392bn; top five platforms still dominant

'As more low-cost trading apps come to market, competition is intensifying'

James Baxter-Derrington
clock 26 February 2024 • 1 min read
Far from the Madding Crowd: An investment moment in time

Far from the Madding Crowd: An investment moment in time

'Our hunt for undervalued shares takes us away from the crowd'

Ben Preston
clock 23 February 2024 • 3 min read
Abrdn debuts exclusive MPS with BoE base rate aligned return aim

Abrdn debuts exclusive MPS with BoE base rate aligned return aim

‘We have spent a lot of time talking to advisers about solutions’

Hope Coumbe
clock 21 February 2024 • 1 min read