The FTSE 100 fell slightly, led by a 3.5% drop in GSK shares following its £8 billion acquisition of US biotech firm Nuvalent, a deal larger than investors expected. While the acquisition aims to boost GSK's oncology pipeline and revenue from 2027, some investors worry about the deal's size. Other UK blue-chips like Glencore and AstraZeneca also declined, while European and Asian markets showed gains, supported by strong semiconductor stocks and easing oil prices. UK retail sales rebounded 3.7% in May, providing some economic optimism. The market remains cautious amid geopolitical tensions and energy concerns, with future trading updates and global developments likely to influence investor sentiment.
UBS maintains a neutral rating on GSK ahead of its Q2 results, focusing on CEO Luke Miels' upcoming strategy update. UBS expects little market reaction to the earnings, highlighting concerns over a £4 billion gap between GSK's sales target and foreca...
UBS maintains a neutral rating on GSK ahead of its Q2 results and a strategy update from new CEO Luke Miels, focusing on whether he can deliver GSK's target of over £40 billion in risk-adjusted sales by 2031. UBS forecasts slightly below consensus fo...
