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Market Report: FTSE shrugs off Brexit uncertainty as company takeovers boost momentum

FTSE 100 moved higher as investors were happy with Brexit talks heading into extra time (and possibly penalties). Takeovers were also keeping the market busy and the blue-chip index rose 14 points to 6,560.

AstraZeneca PLC has struck a US$39bn deal to acquire US immunology and rare disease specialist Alexion Pharmaceuticals Alexion grew revenues 21% to US$5bn in 2019.

Codemasters has agreed to a 604p per share takeover from Electronic Arts that values the video games maker at £945mln.

Unilever PLC (LON:ULVR) is to give shareholders the chance to vote on its action to reduce carbon emissions to zero. In a statement on Monday, the consumer foods giant said it was the first time a company of its size had put climate transitions plans to a shareholder vote.

Among the small caps, Applied-Graphene-Materials-PLC (LON:AGM) climbed on a distribution agreement with ManHo Polymers, one of South Korea’s  leading chemicals distributors. The agreement takes Applied Graphene’s dispersions technology into the South Korean coatings and liquid resins markets.

Sareum Holdings PLC (LON:SAR) noted a study into severe forms of coronavirus (COVID-19) that identified TYK2 as a key genetic trigger. Sareum has just received a UK grant to test its proprietary TYK2 inhibitor in severe COVID-19 cases.

Jersey-Oil-and-Gas (LON:JOG) as uncovered a new oil prospect in the North Sea. Named Wengen, the target is estimated to host some 62mln barrels of mean average potential resources.


Quick facts: Unilever PLC

Price: 3830 GBX

Market: LSE
Market Cap: £100.65 billion

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