AstraZeneca PLC9% slump after FT report of merger talks with Bristol-Myers, viewed skeptically.
The FTSE 100 underperformed European peers on Monday as a 9% slump in AstraZeneca, the index's second-largest company by market value, outweighed broader gains spurred by falling oil prices. The FTSE 100 closed down 0.1% at 10,857.70, while the FTSE 250 rose 1.0% and the AIM All-Share added 0.8%. AstraZeneca's drop followed a Financial Times report that it held merger talks with US peer Bristol-Myers about a potential 400 billion dollar deal, which analysts at Jefferies and Bank of America viewed with skepticism. Brent oil fell to 83.92 dollars a barrel after President Trump said he was holding off on new attacks on Iran, easing inflation fears and pushing US 10-year Treasury yields down to 4.69%. Among other movers, Clarkson surged 9.0% to an all-time high after forecasting full-year performance materially ahead of expectations, while InterContinental Hotels Group fell 2.2% after mixed results from US peer Marriott.
AstraZeneca PLC9% slump after FT report of merger talks with Bristol-Myers, viewed skeptically.
Bristol-Myers Squibb Company
Johnson & Johnson
Eli Lilly and Company
InterContinental Hotels Group PLC ADRFell 2.2% after mixed results from US peer Marriott.
Marriott International Inc
ClarksonForecast full-year performance materially ahead of expectations, shares surged 9%.
HSBC Holdings PLC