Equities

DEFENSIVE STOCKS

JAPAN

US EQUITIES

UK shares held on to modest gains this morning after the final reading for UK GDP growth in the first quarter was held at 0.8%.

GLOBAL INCOME

Woodford Investment Management raised £1.6bn for the CF Woodford Equity Income fund during its offer period this month, the company has announced.

River and Mercantile Group, the asset management and consultancy business which formed in February, is to list today at a price which values the business at £150m.

UK pharmaceutical group Shire saw shares jump 10% by mid-morning, after it revealed it rejected a £27bn bid approach from a US group.

Polar Capital is looking to expand its number of investment teams, adding it has been encouraged by "unsolicited approaches", after nearly doubling assets under management in its last financial year.

The FTSE 100 was higher by mid-morning despite this morning's data from the ONS revealing a greater than expected fall in the rate of CPI inflation.