The FTSE 100 moved higher in early trading, up 24 points to 7,533. GSK led the way after completing the acquisition of Affinivax, a clinical-stage biopharma company.
Real wages fell at a record level between April and June as weekly earnings continued to lag behind 40-year high inflation. Wages, when considering soaring prices, declined 3% over the year.
Reebok owner Authentic Brands is closing in on a £200mln deal to takeover Ted Baker. The 110p-a-share offer is almost a third less than what it was prepared to pay in May.
BHP will pay out a record US$16.3bn in dividends. The mining company posted its highest ever full-year profit on the back of record commodity prices.
Among the small caps, NetScientific said it completed the acquisition of a 30% stake in Vortex Biotech Holdings. The company is targeting the multi-billion-dollar liquid biopsy market.
Rainbow Rare Earths became a member of the European Raw Material Alliance. The group aims to diversify supply chains, promote innovation, create jobs and attract investment.
Empire Metals said drilling in Western Australia returned multiple significant intercepts. The programme of 26 holes focused mainly on extending the known mineralised trends.
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