GSK boost helps FTSE 100 snap three-day losing streak
GlaxoSmithKline jumped 7 percent to take the top spot on the FTSE 100 index after saying it would combine its consumer health business with Pfizer's in a joint venture with sales of 9.8 billion pounds ($12.41 billion).
GSK, which was on track for its best day in ten years, also said it plans to split into two businesses - one for prescription drugs and vaccines, the other for over-the-counter products.
Healthcare stocks were the biggest boost to the main index, with Shire also adding 1.2 percent.
Deutsche Post shares also fell 4.9 percent.
Flybe has more than doubled in market value since Sky News broke the news on the takeover talks in late November - but the struggling airline has still sunk 43 percent this year as profit warnings took their toll on the share price.
On the Brexit front, the government said it would implement plans for a no-deal scenario in full, even as Prime Minister Theresa May is set to bring her divorce deal back to the parliament in mid-January. ($1 = 0.7896 pounds) (Reporting by Muvija M and Shashwat Awasthi in Bengaluru, Editing by Helen Reid)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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