FTSE 100 movers: Ocado gives back some gains; GSK rallies
Sharecast
Published Jun 23, 2023 14:15
FTSE 100 movers: Ocado gives back some gains; GSK rallies
Sharecast - Online supermarket Ocado (LON:OCDO) slid, having rocketed on Thursday amid speculation it could be takeover target for Amazon (NASDAQ:AMZN).
Housebuilders Persimmon (LON:PSN), Berkeley, Taylor Wimpey (LON:TW) and Barratt all fell amid concerns about the impact of surging borrowing costs.
GSK (LON:GSK) rallied after the pharmaceuticals group said that a Zantac trial that was due to begin next month in California was dismissed after a confidential settlement was agreed.
Danni Hewson, head of financial analysis at AJ Bell, said: "News pharmaceutical giant GSK has settled a case in California alleging its Zantac heartburn medication caused cancer, while crucially admitting no liability, is not a full stop on the saga but is the latest punctuation point in what shareholders will hope is its final stanza.
"Once the world’s best-selling drug, there have been a series of lawsuits brought in the US implying a link between Zantac and cancer but, so far, GSK has been able to navigate its way through these choppy waters. A court ruling in Florida before Christmas, which provided a comprehensive dismissal of the plaintiffs’ arguments, proved a bit of a lode star for the company.
"As it begins to put this issue behind it, focus will turn to its efforts to catch up with its close UK peer AstraZeneca (NASDAQ:AZN) which has drastically outperformed it in share price terms in recent years."
FTSE 100 - Risers
GSK (GSK) 1,420.20p 4.50%
Convatec Group (CTEC (LON:CTEC)) 211.80p 2.42%
Croda International (CRDA) 5,566.00p 2.09%
British American Tobacco (LON:BATS) 2,620.00p 1.18%
Pearson (LON:PSON) 820.40p 1.16%
Associated British Foods (LON:ABF) 1,955.50p 0.98%
Vodafone Group (LON:VOD) 72.57p 0.93%
Halma (LON:HLMA) 2,252.00p 0.72%
Severn Trent (LON:SVT) 2,707.00p 0.71%
National Grid (LON:NG.) 1,042.50p 0.63%
Get The App
FTSE 100 - Fallers
Ocado Group (OCDO) 526.00p -7.36%
JD Sports Fashion (JD.) 141.95p -5.21%
International Consolidated Airlines Group (LON:ICAG) SA (CDI) (IAG) 159.65p -3.74%
Smith (DS) (SMDS) 270.10p -3.67%
Persimmon (PSN) 1,063.00p -3.67%
Anglo American (LON:AAL) 2,264.00p -2.87%
Glencore (LON:GLEN) 433.55p -2.79%
Berkeley Group Holdings (The) (BKG) 3,765.00p -2.76%
Taylor Wimpey (TW.) 100.00p -2.63%
Barratt Developments (LON:BDEV) 407.40p -2.61%
Read more on Sharecast.com
Written By: Sharecast
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.