Share Prices & Company Research

Market News

19 Dec 2018 | 09:02

UK stocks open 0.3% higher; buoyed by GSK merger news

UK stocks opened stronger on Wednesday after merger news boosted healthcare stocks and investors braced for a Fed rates decision due later in the day.

At 0850, the benchmark FTSE 100 index was up 20.98 points, or 0.3%, at 6.722.57.

Pharmaceutical giant GlaxoSmithKline rallied 7.4% after it announced the formation of a new consumer healthcare joint venture with Pfizer that could be listed separately on the stock exchange.

Rival drug company Shire gained 1.2%.

Flybe shares rocketed 18% higher after Virgin Atlantic confirmed that it was still mulling a takeover of the UK regional carrier.

Online gambling group 888 gained 4.4% on announcing that it remained confident that adjusted earnings for the full year would be in-line with its expectations, citing progress against strategic objectives in the second half.

Shipping group Gulf Marine Services tumbled 60% after it warned it would breach its debt covenants amid pressure on earnings from an industry oversupply of vessels.

Silence Therapeutics rallied 5.8% on announcing that it had identified a new potential treatment candidate for cardiovascular disease.

James Fisher and Sons added 0.4% after it won a £30m contract to construct a search and rescue vessel for the Korean navy.

Embattled power retailer Yu Group plunged another 33% on the back of revelations it is being investigated by the UK's Financial Conduct Authority over the accuracy of its market filings.

Renewable fuels group Velocys gained 5.1% as it secured a site for its UK waste-to-jet-fuel project, being developed in collaboration with British Airways and Shell. Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.