FTSE 100 rises as AstraZeneca lifts healthcare sector
EWU•London’s FTSE 100 rose 0.34% to 10,721.48 points as AstraZeneca gained 1.7% after agreeing to invest $2 billion in Summit Therapeutics and collaborate on cancer-treatment studies.
1. London shares rise
The FTSE 100 rose 0.34% to 10,721.48 points by 0925 GMT on Tuesday, while the FTSE 250 climbed 0.24%. Pharmaceutical stocks led the gains, with the sector up 1.5%.
2. AstraZeneca investment
AstraZeneca said it would invest $2 billion in Summit Therapeutics and collaborate on studies testing their cancer treatments together. GSK also gained 1.7%.
3. Other market movers
Vesuvius surged 21.7% after RHI Magnesita proposed a cash-and-stock bid. British American Tobacco fell 1.7% after warning annual growth was likely to be at the lower end of its forecast range, while Close Brothers rose 11.2% after reporting annual adjusted operating profit of £120.3 million, above a company-compiled consensus of £111 million.
