Initial gains were driven by mining and pharma stocks, with Glencore climbing 2.2% after announcing more share buybacks. (GSK) also received buying interest after settling an important patent dispute, rising over 1% in the early session.
As far as the index, there were contributions from AstraZeneca, Intertek, and Associated British Foods. Marks & Spencer and Rio Tinto added further support. In contrast, IMI and Intercontinental Hotels Group were among the top laggards, each slipping over 1%.
GSK settled worth $370 million with CureVac, resolving an mRNA patent conflict tied to Pfizer and BioNTech’s COVID and flu vaccines. The deal includes upfront cash and a 1% royalty on future US sales, with additional payments possible if CureVac’s merger with BioNTech proceeds.
