IntelliAM aiming for significant growth with £5 million Aquis IPO. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,510.50
Bid: 1,511.00
Ask: 1,511.50
Change: 7.00 (0.47%)
Spread: 0.50 (0.033%)
Open: 1,514.00
High: 1,518.50
Low: 1,507.50
Prev. Close: 1,503.50
GSK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON BRIEFING: UK retail sales fall amid wet April; Co-Op Bank deal

Fri, 24th May 2024 07:52

(Alliance News) - Stocks are called to open lower on Friday, following New York lower, as hopes of interest rate cuts have come into question.

In early economic news, UK retail sales fell in April, as miserable weather kept shoppers at home, according to a first estimate.

There was some good news for GSK, with the firm welcoming the jury verdict in the Valadez case in Illinois state court. The case was in GSK's favour.

Here is what you need to know at the London market open:

----------

MARKETS

----------

FTSE 100: called down 0.9% at 8,263.60

----------

Hang Seng: down 1.6% at 18,568.15

Nikkei 225: closed down 1.2% at 38,646.11

S&P/ASX 200: closed down 1.1% at 7,727.60

----------

DJIA: closed down 605.78 points, or 1.5%, at 39,065.26

S&P 500: closed down 39.17 points, or 0.7%, at 5,267.84

Nasdaq Composite: closed down 65.51 points, or 0.4%, at 16,736.03

----------

EUR: down at USD1.0810 (USD1.0830)

GBP: down at USD1.2690 (USD1.2710)

USD: down at JPY157.08 (JPY157.13)

Gold: down at USD2,337.70 per ounce (USD2,340.90)

(Brent): down at USD81.33 a barrel (USD81.58)

(changes since previous London equities close)

----------

ECONOMICS

----------

Friday's key economic events still to come:

08:30 EDT Canada retail sales

08:45 CEST France business confidence

09:00 CEST Spain PPI

08:30 EDT US durable goods orders

----------

UK retail sales fell in April, as miserable weather kept shoppers at home, according to a first estimate on Friday. Retail sales fell by 2.7% in April from a year prior, the Office for National Statistics said. Sales had increased by 0.4% on-year in March, being revised up from being flat previously. According to FXStreet, retail sales were expected to fall by just 0.2% annually in April. Sales fell by 2.3% in April from March, following a 0.2% fall in March from February. March's reading was worse than consensus of just a 0.4% slip. "Sales volumes fell across most sectors, with clothing retailers, sports equipment, games and toys stores, and furniture stores doing badly as poor weather reduced footfall," the ONS said.

----------

The Tory and Labour parties clashed on energy policy for the UK as the general election campaign focused on the prospect of cheaper household bills. Labour leader Keir Starmer is using a visit to Scotland to promote his plan for a publicly-owned green electricity generator, which he said would cut bills and boost energy security. Energy Secretary Claire Coutinho set out plans for consumer-friendly changes and accused Labour of not being "honest about the costs" that their plans for net zero power would involve. The row came as regulator Ofgem early Friday set out the latest level for the energy price cap on average bills. The watchdog said the average household energy bill will drop by around 7% from July 1, when the latest change to the price cap takes effect. This means the average UK household will pay GBP122 less per year.

----------

BROKER RATING CHANGES

----------

HSBC cuts Aviva to 'hold' - price target 525 pence

----------

Berenberg starts Andrada Mining with 'buy' - price target 10 pence

----------

HSBC cuts Midwich Group to 'hold' - price target 425 pence

----------

COMPANIES - FTSE 100

----------

GSK welcomed the jury verdict in the Valadez case in Illinois state court finding in GSK's favour in the first Zantac case to go to trial. "This outcome is consistent with the scientific consensus that there is no consistent or reliable evidence that ranitidine increases the risk of any cancer, supported by 16 epidemiological studies looking at human data regarding the use of ranitidine," GSK said. It added that it "will continue to vigorously defend itself against all other claims." Zantac was a heartburn drug that was pulled off the market in 2020 at the request of the US Food & Drug Administration, after low levels of a "probable carcinogen" were found in samples. The carcinogen, known as NDMA, is not harmful in very small amounts. However, tests showed that there were excessive quantities of NDMA in ranitidine, otherwise known as Zantac. Multiple litigations have followed. Also on Friday, GSK said that findings across its oncology portfolio will be presented in 25 abstracts at the 2024 American Society of Clinical Oncology annual meeting.

----------

Intertek said that between January and April it reported revenue of GBP1.08 billion, representing growth of 7.5% at constant currency and 2.0% at actual rates. It said margin progression was driven by pricing, operating leverage, cost controls and productivity improvements. Looking ahead, Intertek reconfirmed 2024 outlook. CEO Andre Lacroix said: "We expect the group will deliver a robust performance with mid-single digit LFL revenue growth at constant currency, margin progression and a strong cash flow performance. We are well positioned to get back to our peak margin of 17.5% and beyond in the medium-term, capitalising on the revenue growth acceleration we are seeing for our ATIC solutions, our disciplined performance management and our investments in high growth and high margin segments."

----------

COMPANIES - FTSE 250

----------

John Wood said it has received a third unsolicited, preliminary and conditional proposal from Dar Al-Handasah Consultants Shair & Partners Holdings Ltd, known as Sidara, for a cash offer of 220 pence per Wood share. This represents an increase of approximately 3.8% to the previous proposal of 212 pence per Wood share submitted on May 14. The company said the new offer "continued to significantly undervalue the group and its prospects." It has therefore rejected the proposal.

----------

abrdn said that Stephen Bird as stepped down as CEO, after four years in the role. Jason Windsor, currently chief financial officer, has been appointed as interim CEO. It has also launched a formal search process for a permanent CEO, which includes the consideration of external candidates. Chair Douglas Flint said: "Jason brought significant and relevant leadership experience to abrdn and since his arrival last year has made a strong start. The board looks forward with confidence to working with him in his new role as our interim group CEO."

----------

OTHER COMPANIES

----------

Coventry Building Society said it has agreed to buy Co-operative Bank in a GBP780 million deal. Coventry Building Society said owners of 88% of Co-operative Bank A shares agreed to the takeover, whilst owners of 100% of B shares agreed. It noted that up to GBP125 million of Co-operative Bank cash payment is deferred over three years. It added that Coventry Building Society will remain as a building society following the Co-operative Bank takeover. The acquisition is expected to complete in the first quarter of 2025. Coventry Building Society CEO Steve Hughes said: "By bringing together Coventry Building Society and The Co-operative Bank we will be able to deliver more value to more people in the coming years. I am excited about the opportunities that lie ahead, most importantly, our ability to sustain the great value and outstanding service that matters most to our members."

----------

Tribal Group said it has reached a settlement agreement with Nanyang Technological University. Without admission of liability, the Bristol-based educational software and services provider has agreed to pay to NTU GBP3.1 million in full and final settlement, over the next 18 months.

----------

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
4 Jul 2024 12:13

UK dividends calendar - next 7 days

Friday 5 July 
abrdn European Logistics Income PLCdividend payment date
Associated British Foods PLCdividend payment date
BlackRock Sustainable American Income Trust PLCdividend payment date
Britvic PLCdividend payment date
Capital Gearing Trust PLCdividend payment date
Computacenter PLCdividend payment date
CT Global Managed Portfolio Trust PLCdividend payment date
Essentra PLCdividend payment date
Forterra PLCdividend payment date
Grainger PLCdividend payment date
Hill & Smith PLCdividend payment date
IntegraFin Holdings PLCdividend payment date
JPMorgan European Growth & Income PLCdividend payment date
Judges Scientific PLCdividend payment date
Likewise Group PLCdividend payment date
Marks & Spencer Group PLCdividend payment date
Marlowe PLCspecial dividend payment date
Menhaden Resource Efficiency PLCdividend payment date
STS Global Income & Growth Trust PLCdividend payment date
TwentyFour Select Monthly Income Fund Ltddividend payment date
US Solar Fund PLCdividend payment date
Warpaint London PLCdividend payment date
Whitbread PLCdividend payment date
WPP PLCdividend payment date
Monday 8 July 
Great Portland Estates PLCdividend payment date
RTC Group PLCdividend payment date
Tuesday 9 July 
Restore PLCdividend payment date
Wednesday 10 July 
abrdn Diversified Income & Growth PLCspecial dividend payment date
Assura PLCdividend payment date
Hollywood Bowl Group PLCdividend payment date
Michelmersh Brick Holdings PLCdividend payment date
National World PLCdividend payment date
Renew Holdings PLCdividend payment date
Thursday 11 July 
Amedeo Air Four Plus Ltdex-dividend payment date
Anpario PLCex-dividend payment date
Atalaya Mining PLCex-dividend payment date
Balanced Commercial Property Trust Ltdex-dividend payment date
BlackRock Latin American Investment Trust PLCex-dividend payment date
Caffyns PLCex-dividend payment date
Cake Box Holdings PLCex-dividend payment date
Caledonia Mining Corp PLCex-dividend payment date
Centrica PLCdividend payment date
Character Group PLCex-dividend payment date
CMC Markets PLCex-dividend payment date
Custodian Property Income REIT PLCex-dividend payment date
Global Smaller Cos Trust PLCex-dividend payment date
Good Energy Group PLCdividend payment date
GSK PLCdividend payment date
Halma PLCex-dividend payment date
Heavitree Brewery PLCex-dividend payment date
Heavitree Brewery PLC Aex-dividend payment date
i3 Energy PLCex-dividend payment date
Invesco Bond Income Plus Ltdex-dividend payment date
JPMorgan Asia Growth & Income PLCex-dividend payment date
JPMorgan Japan Small Cap Growth & Income PLCex-dividend payment date
Kitwave Group PLCex-dividend payment date
Marks Electrical Group PLCex-dividend payment date
Merchants Trust PLCex-dividend payment date
Mountview Estates PLCex-dividend payment date
MS International PLCex-dividend payment date
Oxford Instruments PLCex-dividend payment date
Plus500 Ltddividend payment date
Real Estate Investors PLCex-dividend payment date
Record PLCex-dividend payment date
Sanderson Design Group PLCex-dividend payment date
Schroder European Real Estate Investment Trust PLCex-dividend payment date
Schroder UK Mid Cap Fund PLCex-dividend payment date
Scottish Mortgage Investment Trust PLCdividend payment date
Shoe Zone PLCex-dividend payment date
Supermarket Income REIT PLCex-dividend payment date
Unicorn AIM VCT PLCex-dividend payment date
WH Smith PLCex-dividend payment date
  
Comments and questions to newsroom@alliancenews.com 
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved. 

Read more
3 Jul 2024 09:45

GSK restructures vaccine collaboration with CureVac

(Sharecast News) - GSK announced on Wednesday that it has restructured its collaboration with CureVac into a new licensing agreement, granting GSK exclusive rights to develop, manufacture, and globally commercialise mRNA-based candidate vaccines for influenza and Covid-19.

Read more
3 Jul 2024 09:22

TOP NEWS: GSK inks licensing deal with CureVac for flu and Covid drugs

(Alliance News) - GSK PLC on Wednesday restructured an existing collaboration with CureVac NV into a new licensing agreement to take control of developing a number of flu and Covid drugs.

Read more
3 Jul 2024 09:14

GSK buys COVID, influenza vaccines from retrenching CureVac

July 3 (Reuters) - British drugmaker GSK on Wednesday bought partner CureVac out of their alliance on influenza and COVID-19 vaccine development, boosting its messenger RNA credentials and extending the German biotech company's financial lifeline.

Read more
3 Jul 2024 07:46

LONDON BRIEFING: Keywords Studios agrees takeover by EQT

(Alliance News) - Stocks in London are expected to open higher on Wednesday, as investors shake off pre-election nerves.

Read more
2 Jul 2024 17:24

London close: Stocks fall on EU inflation, US jobs data

(Sharecast News) - London stocks closed lower on Tuesday as investors digested eurozone inflation data and a modest increase in US job openings.

Read more
2 Jul 2024 17:23

London's FTSE 100 hits over two-month low amid election jitters

FTSE 100 down 0.6%, FTSE 250 off 0.1%

*

Read more
1 Jul 2024 23:37

Drugmakers' appeal to end Zantac cancer lawsuits rebuffed by judge

July 1 (Reuters) - A Delaware judge rebuffed a request by GSK and other drugmakers to appeal a ruling allowing more than 70,000 lawsuits claiming that the heartburn drug Zantac caused cancer to go forward.

Read more
28 Jun 2024 19:43

IN BRIEF: GSK reaches settlement over Zantac case in Illinois

GSK PLC - London based pharmaceuticals company - Reaches confidential settlement with Martin Gross resolving the case he filed in Illinois state court regarding Zantac. GSK does not admit any liability in this settlement. The case will now be dismissed as to GSK. Continues to vigorously defend itself and manage this litigation in the best interests of the company and shareholders.

Read more
27 Jun 2024 17:25

European shares subdued ahead of economic data, French elections; H&M plunges

H&M tumbles after missing quarterly profit forecasts

*

Read more
27 Jun 2024 17:02

London's FTSE 100 slips as investors eye US, UK economic data

FTSE 100 down 0.6%, FTSE 250 adds 0.2%

*

Read more
27 Jun 2024 16:40

GSK shares slide after US health agency narrows scope of RSV shots

GSK shares fall as much as 7%

*

Read more
27 Jun 2024 15:48

London close: Stocks mixed ahead of key UK, US data

(Sharecast News) - London stocks ended Thursday's trading session with a mixed performance as market participants awaited crucial US inflation data and UK GDP figures set to be released later in the week.

Read more
27 Jun 2024 12:05

LONDON MARKET MIDDAY: Tepid trade as eyes on elections, US inflation

(Alliance News) - Stock prices in Europe struggled to make headway heading into Thursday afternoon, with sentiment cautious on the penultimate trading day of the quarter.

Read more
27 Jun 2024 09:58

GSK shares drop as US narrows recommendations for RSV vaccines

(Sharecast News) - Shares in biopharma giant GSK tumbled on Thursday after a ruling by a US health agency narrowed usage recommendations for all respiratory syncytial virus (RSV) vaccines, restricting the addressable market for the company's Arexvy product.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.