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FTSE starts the week higher; GSK slips while Frasers climbs on share buyback - Market Report

FTSE starts the week higher; GSK slips while Frasers climbs on share buyback - Market Report

The FTSE 100 opened slightly higher ahead of a week dominated by UK inflation figures on Wednesday and GDP on Thursday.

Among companies, it was Body Shop in the headlines on weekend rumours the cosmetics retailer was getting ready to call in the administrators following tough Christmas trading.

Cash struggles elsewhere have reportedly seen Virgin Media O2 reignite discussions with TalkTalk meanwhile, over a deal which could see it buy the latter’s consumer division.

Among listed companies, GSK shares slipped despite news the pharma firm had been granted US fast-track status for its chronic hepatitis B treatment.

And finally, shares in Frasers climbed early on after the Sports Direct owner signalled a new £80 million buyback would kick off on Monday and that it had upped its stake in online retailer N Brown.

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