FTSE 100 watch: Footsie little changed as Syria tensions weigh

Shire shares up amid Takeda bid prospects

FTSE 100 watch: Footsie little changed as Syria tensions weigh

The UK benchmark index has been little changed in today’s session, pegged back by Syria-related worries. In individual movers, Shire (LON:SHP) is outperforming the FTSE 100 with investors digesting the prospects for a takeover bid by Japan’s Takeda Pharmaceuticals.

FTSE 100 little changed

As of 13:18 BST, the Footsie had lost 1.80 points to stand 0.03 percent lower at 7,255.34. Sentiment has been subdued today amid worries over possible US military action in Syria following a tweet by President Donald Trump.

“There aren’t any massive moves (on equity benchmarks) taking place, and I think that is because the market is caught a little bit between a rock and a hard place,” Jasper Lawler, head of research at London Capital Group, told Reuters. “You’ve got the trade concerns on one side [...] and you’ve got the threat of a military conflict in Syria, so while that’s top of the agenda it’s hard to see how the market can pave out a road to recovery.”

Miners are currently proving a drag on the index, with Randgold Resources (LON:RRS) leading the sector lower, having given up 2.21 percent to 5,746.00p.

Individual Footsie movers

Shire has been one of today’s most notable blue-chip movers following reports that Takeda, which recently confirmed that it was mulling over a potential bid for the London-listed rare disease specialist, had sounded out its major creditors for loans. Shire’s shares are currently changing hands 2.15 percent higher at 3,666.50p.

Tesco (LON:TSCO) meanwhile has added 3.06 percent to 232.30p, extending gains from the previous session when it rose on the back of its upbeat full-year results.

The FTSE 100 was 0.03 percent down at 7,254.75 points as of 13:24 BST on Thursday, 12 April 2018.

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