The UK's pharmaceutical sector dragged the FTSE deep into the red this morning after US giant AbbVie said it is reconsidering the planned takeover of Shire, casting doubts over elevated share prices.
US pharmaceutical firm AbbVie is reconsidering its proposed takeover of UK rival Shire following a US tax crackdown.
BNY Mellon is set to acquire US-based fixed income and solutions specialist Cutwater Asset Management, bolstering Insight Investment's capabilities in the process.
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Balfour Beatty has rejected a third, £2bn takeover offer from rival construction firm Carillion, sending its shares down sharply.
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Equity Income fund managers are yet to warm to the tobacco sector, despite a strong 2014 for stocks driven by M&A and their defensive qualities.