European stock markets mid session: a deal between the drug maker boosted stock markets

Market news

22 April 2014

European stock markets mid session: a deal between the drug maker boosted stock markets

European stocks climbed resuming trading after Easter holidays. The key driver of the increase was a deal between GlaxoSmithKline Plc and Novartis AG. Novartis AG agreed to buy Glaxo’s cancer-drug business.

Focus continues on tensions in Ukraine.

GlaxoSmithKline Plc climbed 5.4%. Novartis AG shares rose 2.5%.

AstraZeneca shares increased 7.8%, caused by rumours about a potential AstraZeneca acquisition by Pfizer.

Philips shares dropped 6.6% after the publication of the weak first quarter results.

Current figures:

Name Price Change Change %

FTSE 100 6,691.32 66.01 1.00%

DAX 9,527.97 118.26 1.26%

CAC 40 4,470.28 38.47 0.87%

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