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July 25, 2019, 7:12 a.m. EDT

Miners and pharmaceutical giants inject life into London markets

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By Callum Keown


Reuters
AstraZeneca led the FTSE 100 risers on Thursday after its second quarter results. REUTERS/Phil Noble//File Photo

London markets made slight gains on Thursday as FTSE 100 miners rebounded and pharma giant AstraZeneca posted strong results.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.47%   edged up 0.1%, while the FTSE 250 /zigman2/quotes/210598417/delayed UK:MCX +0.46%   also climbed 0.3%.

What’s moving the markets?

Mining giants, which dragged the FTSE 100 down on Wednesday off the back of falling iron ore prices, rebounded to lift the blue-chip index.

Evraz /zigman2/quotes/202291633/delayed UK:EVR -12.59%   led the risers, while Fresnillo /zigman2/quotes/201300065/delayed UK:FRES -0.08%  , Anglo American /zigman2/quotes/201381512/delayed UK:AAL -1.46%   and Glencore /zigman2/quotes/201400686/delayed UK:GLEN -0.46%   all made gains of more than 1%.

The pharmaceutical sector also drove gains after drugmaker AstraZeneca /zigman2/quotes/203048482/delayed UK:AZN +1.96%   raised sales forecasts for the year after strong sales from its top-selling lung cancer drug as well as success in China.

GlaxoSmithKline /zigman2/quotes/200381158/delayed UK:GSK +3.57%   continued to rise after reporting a 5% revenue rise on Wednesday led by its shingles vaccine.

AJ Bell investment director Russ Mould said: “Pharmaceutical firms and miners gave the index the biggest support, led by a very strong showing from AstraZeneca which has lifted its sales guidance.”

The pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.0330%  , which had rallied on Wednesday as Boris Johnson took charge as prime minister and played down the possibility of a no-deal Brexit, remained stable at $1.247.

Which stocks are active?

British engineering company Cobham   soared 35% after agreeing to a £4bn takeover by U.S. private equity firm Advent. The U.K. defence supplier’s shareholders will receive 165p per share in cash, a 34% premium to the closing price on Wednesday.

AstraZeneca shares jumped 5.5% as the British drugmaker raised its sales forecast for the year. Revenue from its best-selling lung cancer drug Tagrisso almost doubled to $784 million in the first half of 2019.

The U.K.’s largest listed tech firm Sage /zigman2/quotes/204528931/delayed UK:SGE -0.81%   plunged 12.2% after reporting a fall in software revenue in the nine months to the end of June. The company also warned that its full-year operating profit margin would be at the lower end of its 23-25% guidance.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,500.89
+34.98 +0.47%
Volume: 485,098
Aug. 12, 2022 4:52p
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/zigman2/quotes/210598417/delayed
UK : FTSE UK
20,338.96
+93.53 +0.46%
Volume: 193,661
Aug. 12, 2022 4:55p
loading...
/zigman2/quotes/202291633/delayed
UK : U.K.: London
80.89 p
-11.65 -12.59%
Volume: 0.00
March 10, 2022 12:00p
P/E Ratio
0.89
Dividend Yield
96.92%
Market Cap
£1.18 billion
Rev. per Employee
£162,168
loading...
/zigman2/quotes/201300065/delayed
UK : U.K.: London
749.80 p
-0.60 -0.08%
Volume: 502,883
Aug. 12, 2022 4:35p
P/E Ratio
31.05
Dividend Yield
3.02%
Market Cap
£5.53 billion
Rev. per Employee
£93,691
loading...
/zigman2/quotes/201381512/delayed
UK : U.K.: London
2,963.00 p
-44.00 -1.46%
Volume: 1.99M
Aug. 12, 2022 4:35p
P/E Ratio
6.89
Dividend Yield
6.74%
Market Cap
£39.63 billion
Rev. per Employee
£446,346
loading...
/zigman2/quotes/201400686/delayed
UK : U.K.: London
472.40 p
-2.20 -0.46%
Volume: 16.70M
Aug. 12, 2022 4:35p
P/E Ratio
5.19
Dividend Yield
4.54%
Market Cap
£61.28 billion
Rev. per Employee
£1.09M
loading...
/zigman2/quotes/203048482/delayed
UK : U.K.: London
10,712.00 p
+206.00 +1.96%
Volume: 1.12M
Aug. 12, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
2.07%
Market Cap
£165.98 billion
Rev. per Employee
£399,908
loading...
/zigman2/quotes/200381158/delayed
UK : U.K.: London
£ 1,450.00
+50.00 +3.57%
Volume: 13.54M
Aug. 12, 2022 4:35p
P/E Ratio
12.91
Dividend Yield
0.04%
Market Cap
£58.63 billion
Rev. per Employee
£391,949
loading...
/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.2142
+0.0004 +0.0330%
Volume: 0.0000
Aug. 12, 2022 4:59p
loading...
/zigman2/quotes/204528931/delayed
UK : U.K.: London
736.60 p
-6.00 -0.81%
Volume: 1.09M
Aug. 12, 2022 4:35p
P/E Ratio
26.68
Dividend Yield
2.43%
Market Cap
£7.50 billion
Rev. per Employee
£155,245
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