UK's FTSE 100 edges higher on AstraZeneca boost; Network International shines

UK's FTSE 100 inched up on Friday boosted by AztraZeneca gains after the drugmaker got U.S. regulator's nod for an experimental antibody, while payments provider Network International surged on reaching an agreement to be taken private.

The FTSE 100 benchmark index rose 0.1% as of 0711 GMT, boosted by a 0.8% gain in AstraZeneca after the U.S. Food and Drug Administration advisers backed the use of the drug maker and partner Sanofi's experimental antibody to prevent respiratory infections in infants. The broader healthcare sector added 0.6%.

The FTSE 250 midcap index, however, shed 0.2%. Network International jumped 5.6%, after Canada's Brookfield Asset Management said it had reached an agreement with the payments provider for a cash offer of 2.2 billion pounds ($2.76 billion).

Bucking the trend, the chemicals sector shed 6.8%, dragged down by Croda International falling a 11.3% to hit a near three-year low, after the chemicals firm forecast annual profit before tax below expectations.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)