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A look at some of the biggest risers and fallers in the London market on Tuesday
Company
NYSE:ABT
Abbott Laboratories is a global healthcare company. The company’s portfolio of technologies spans the spectrum of healthcare, with businesses and products in diagnostics, medical devices, nutritional and branded generic medicines.
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A look at some of the biggest risers and fallers in the London market on Tuesday
Abbott will provide its proprietary PathVysion HER-2 DNA FISH Probe kits for ANGLE's ANG-002 FDA study for FISH analysis of circulating tumour cells in the form of a research grant
FTSE 100 closed 2.64% lower, or 193 points, at 7,141 amid chaotic US trading
The drugmaker also upped its earnings forecasts for 2018 following the strong performance in the final few months of 2017
The drugs group reported a loss per share of 50 US cents a share in the fourth quarter, mainly because of a US$1.46bn charge related to the corporate tax reforms
Hardware & electrical equipment
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Bard will be bought by fellow titan Becton, Dickinson and Co after the pair agreed to combine in an eye watering $24bn deal.
Though it seemed improbable at the close of trading on Monday, U.S. benchmarks are now up on the week. Sentiment has been boosted by a strong showing overnight in Asian markets and much better than expected US gross domestic product figures
The US economy grew more strongly than expected in the third quarter, and although this may make a rate hike more likely next month, investors are betting that this week's global stock market turmoil will stay the Fed's hand.
Gross domestic product numbers were much better than expected giving a lift to a market already buoyed by Shanghai's strength overnight.
A strong showing this morning in Shanghai and some comforting words from Federal Reserve member William Dudley look set to keep investors in a more upbeat frame of mind.
Shares in acquisitive drugs maker Abbott perked up after it denied an FT report that it is preparing a bid for St Jude Medical.
Investments and investor services
“A healthy upwards revision to US GDP should act as a much needed soothing balm for investors after the turbulence of this week," said Nancy Curtin, chief investment officer, Close Brothers Asset Management