The FTSE 100 has opened flat, with the largest gain coming from multinational consumer goods heavyweight Unilever. The company lifted more than 5% in early trading after launching plans to sack 7,500 workers as part of an overhaul of its ice cream business.
Over in the pharmaceutical industry, AstraZeneca revealed its intention to buy oncology group Fusion for £1.9 billion, a nearly 125% premium to the US-listed group’s closing price on Monday.
Close Brothers soared close to 10% after it unveiled saving measures, including the freezing of its dividend, to ensure it has £400 million in capital to deal with an FCA review into unfair car loans.
Early risers include Reckitt Benckiser, which was up following a sharp fall on Friday after it was ordered to pay US$60 million in damages as part of a baby formula case.
In macro news, Japan was the first of the leading economies to jig its interest rates in this month’s meeting, rising from -0.1% to 0%. Both the UK and US central banks are due to meet this week to discuss rates but the two are expected to keep them unchanged.
