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Mallinckrodt Pharmaceuticals shares surged in pre-market trade on Tuesday after the company said it has agreed to sell its BioVectra unit to private equity firm HIG Capital for around $250m.
London's FTSE 100 was down 0. 2% at 7,223. 45 in afternoon trade on Tuesday as investors mulled the latest UK jobs numbers and a drop in China's producer price index.
The UK unemployment rate unexpectedly ticked a little lower in July as average earnings hit an 11-year high, but job creation slowed.
Gold prices could breach the $2,000 an ounce level and post new cyclical highs at some point in the next year or two, Citi said in a note on Tuesday.
London stocks had pared losses by midday on Tuesday thanks to a strong showing from the banking sector, as investors digested weak Chinese data and a mixed reading on the UK labour market.
Gambling company 888 Holdings posted a drop in first-half profit on Tuesday on the back of rising expenses, as it said trading so far in the second half has been in line with expectations.
Small business sentiment in the US deteriorated in August, according to the National Federation of Independent Business.
Sportswear retailer JD Sports defied the high street gloom on Tuesday as it posted a jump in interim pre-tax profit and said it expects full-year results to come in at the mid-point of expectations.
Bovis Homes said on Tuesday that it is back in talks with Galliford Try over a potential merger with its housing business after a cash sweetener was thrown into the mix, as it posted record first-half profits.
London stocks fell in early trade on Tuesday as investors digested weak Chinese data and eyed the release of key UK jobs figures.
FTSE 250 food manufacturing company Bakkavor reported a drop in first-half pre-tax profit on Tuesday as trading in the UK remained challenging but the international business performed well.
Software company Sage confirmed late on Monday that it is considering the sale of its payments-processing business.
London stocks were to drop at the open on Tuesday as investors eyed the release of key UK jobs data.
London open The FTSE 100 was called to open 15 points lower at 7,220.
The head of the Treasury spending watchdog has warned Sajid Javid that he is on track to break government borrowing rules after embarking on the biggest annual increase in spending for 15 years. Robert Chote, the chairman of the Office for Budget Responsibility (OBR), said the chancellor had set a course for the public finances that would probably breach a Conservative manifesto pledge to deliver balanced budgets by the mid-2020s. – Guardian.