Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

Shire and Smith & Nephew in demand as investors seek defensive stocks

Pharmaceutical and medical companies are in demand as investors seek defensive stocks amid continued worries about the eurozone.

Shire is leading the FTSE 100 risers, up 14p at £18.28, closely followed by Smith and Nephew, up 5p at 691p, GlaxoSmithKline, 10p better at £14.47, and AstraZeneca, adding 10.5p to 1447.5p.

Primark-owner Associated British Foods is also among the risers, up 3p to £12.95, as is British Gas business Centrica, 1p better at 338.2p.

Overall though the picture is one of nervousness, ahead of any Spanish bailout. The FTSE 100 is down 26.59 points at 5826.03, not helped by signs of discord over the weekend between France and Germany about future plans for the eurozone. Greece continues to be a concern, with France's proposal to allow the country more time to fix its problems getting short shrift elsewhere.

With JP Morgan Cazenove suggesting investors take profits after recent gains, the mining sector continues to be under the cosh. Eurasian Natural Resources Corporation is down 16.1p at 328.4p while Fresnillo has fallen 63p to £17.70.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.