Market overview: FTSE 100 down 2
Mar 18, 2010
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16:30 Footsie closed lower as banks and miners ended the day in the red. GlaxoSmithKline was the best performer as rival Novartis had to hand back US rights of a generic copy of Glaxo's top selling drug, the Asthma treatment Advair. Security group G4S also recovered some lost ground. Royal Bank of Scotland, Lloyds and Barclays all came under pressure after their recent good run. FTSE 100 down 2 at 5,643.
15:50 Deutsche Bahn has broken cover and confirmed it is the company that made the unsolicited bid approach for Arriva earlier this week. Miners are a drag on Footsie's progress and the blue-chip index is barely hanging on to positive territory, up 1 at 5,646.
1455 Footsie is still in uncertain mood amid a lack of big company news. Banks and miners are weighing but GlaxoSmithKline leads the leading share index higher after rival drug group Novartis had to hand back US rights of a drug widely considered a generic copy of Glaxo's top selling drug, the Asthma treatment Advair. BG Group is going well after broker Goldman Sachs said the oil and gas group was well placed to benefit from higher prices in coming years. FTSE 100 flat at 5,644.
13:50 Footsie is managing to cling onto gains despite losses in the mining and banking sectors. GlaxoSmithKline leads the Footsie higher after rival drug group Novartis had to hand back US rights of a drug widely considered a generic copy of Glaxo's top selling drug, the Asthma treatment Advair. BG Group is going well after broker Goldman Sachs said the oil and gas group was well placed to benefit from higher prices in coming years. Security group G4S wins back some of the losses it posted following its results on Tuesday. Royal Bank of Scotland is the heaviest faller, while precious metal miner Fresnillo leads the fallers. FTSE 100 up 12 at 5,657.
13:00 GlaxoSmithKline leads the Footsie higher after rival drug group Novartis had to hand back US rights of a drug widely considered a generic copy of Glaxo's top selling drug, the Asthma treatment Advair. BG Group is going well after broker Goldman Sachs said the oil and gas group was well placed to benefit from higher prices in coming years. In the FTSE 250, Premier Farnell leads the risers after the electrical components distributor reported full year sales and underlying profits for fiscal 2009 that were slightly ahead of expectations after a return to year on year growth in the fourth quarter. FTSE 100 up 13 at 5,658.
11:10 Shares in GlaxoSmithKline are in demand after rival drug group Novartis had to hand back US rights of a drug widely considered a generic copy of Glaxo's top selling drug, the Asthma treatment Advair. BG Group is going well after broker Goldman Sachs said the oil and gas group was well placed to benefit from higher prices in coming years. FTSE 100 up 4 at 5,649.
10:20 Banks and miners are weighing on the leading share index, which sits a few points in the red. Royal Bank of Scotland is at the bottom of the pile, with sector peers Lloyds, HSBC and Barclays also falling back. Kazakhmys leads the miners lower. On the plus side, security group G4S wins back some of the losses it posted following its results on Tuesday. FTSE 100 down 10 at 5,634.
09:30 Britain's public finances were in a better state than expected in February. Public Sector Net Borrowing of £12.4bn was less than the £14bn predicted, but still the highest figure for the month since records began in 1983. The Public Finances (PSNCR) came in at £7.7bn versus forecasts for £11bn. Lending to businesses continued to decline though. Equity markets virtually ignored the numbers, with the FTSE 100 down 14 at 5,630, although sterling strengthened slightly.
08:37 London's top stocks have slipped back in early dealings on Thursday, with banks leading the index lower. Lloyds Banking, Barclays and Royal Bank of Scotland are the three worst performers on the Footsie, closely followed by HSBC. Elsewhere, bakery and sandwich chain Greggs saw full-year profits come in slightly better than expected and said it is well placed to achieve a year of further progress in 2010. FTSE 100 is down 5 points at 5,639.
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