FTSE 100 movers: Shire's schadenfreude as FDA holds up AstraZeneca

The FTSE 100 was up 28.77 points (0.45%) mid-afternoon Friday to 6,367.44 as hopes of further stimulus measures by the European Central Bank increase on the back of continued low Eurozone inflation figures.

Shire PLC led the risers on the back of news from AstraZeneca that the US Food and Drug Administration is looking for more information about its new drug application for the investigational fixed-dose combination of saxagliptin and dapagliflozin.

The drug’s proposed use is for the treatment of adult patients with type 2 diabetes, and the FDA said it may require information from new studies.

That sent shares in AstraZeneca down while helping competitor Shire to the top of the ranks.

Oil stocks BP and Royal Dutch Shell were in the top 10 as Brent crude and West Texas Intermediate crude futures recovered.

Burberry was the biggest faller of the day mid-afternoon, continuing its slide from Thursday after poor first half results.

The company revealed total sales were almost flat at £1.1bn in the six months to 30 September, with retail sales up 3% to £774m at the reported level and 2% underlying, but wholesale down 3% and licensing down 18% at the underlying level.

Risers

Shire Plc (SHP) 4,489.00p +2.61%

Tesco (TSCO) 196.35p +2.19%

Royal Dutch Shell 'A' (RDSA) 1,817.50p +2.16%

Anglo American (AAL) 691.00p +2.07%

BP (BP.) 387.20p +1.99%

Royal Dutch Shell 'B' (RDSB) 1,839.00p +1.91%

Sainsbury (J) (SBRY) 267.80p +1.90%

Prudential (PRU) 1,514.50p +1.88%

Glencore (GLEN) 119.95p +1.87%

Capita (CPI) 1,261.00p +1.86%

Fallers

Burberry Group (BRBY) 1,267.00p -2.69%

GKN (GKN) 274.50p -2.14%

TUI AG Reg Shs (DI) (TUI) 1,209.00p -1.79%

Berkeley Group Holdings (The) (BKG) 3,171.00p -1.77%

Rolls-Royce Holdings (RR.) 688.50p -1.22%

Intertek Group (ITRK) 2,591.00p -0.92%

AstraZeneca (AZN) 4,085.50p -0.86%

InterContinental Hotels Group (IHG) 2,296.00p -0.78%

Royal Mail (RMG) 449.60p -0.75%

Ashtead Group (AHT) 958.50p -0.62%