LONDON: UK stocks lower in early trade. FTSE 100 opened 40 to 48 points down or 0.7 percent
The FTSE 100 index closed down by 0.2 percent at 6,860.02 points, retreating from 5-month highs after oil stocks slipped and investment company Hargreaves Lansdown fell following a fall in profits.
BT said on Thursday it had agreed to buy mobile operator EE for 12.5 billion pounds ($19 billion), and would raise 1 billion pounds through a placing of new shares to fund the deal.
A steady recovery in Europe helped Vodafone to stem the rate of sales decline in its third quarter, putting the world’s second biggest mobile operator in touching distance of overall revenue growth once again.
Vodafone also said that the BT deal for EE requires scrutiny, as it would become the dominant player in Britain.
Britain’s grocery industry watchdog said on Thursday it had launched an investigation into supermarket Tesco’s supplier practices which have resulted in delayed payments.
AstraZeneca said on Thursday it had agreed to buy Actavis’ branded respiratory drug business in the United States and Canada for an initial payment of $600 million as it seeks external deals to ensure growth.
The announcement came as Britain’s second-biggest drugmaker posted fourth-quarter results that fell short of expectations.
Compass Group, the world’s biggest catering firm, maintained its full-year outlook after seeing a return to growth in Europe and Japan, but warned that lower oil prices may impact its oil extraction-related business.
