Investing.com -- London’s FTSE 100 rose on Friday as markets weighed U.S. President Donald Trump’s pick of Kevin Warsh to lead the Federal Reserve, with European shares advancing and the pound slipping further below $1.38.
The blue-chip index rose 0.5%, and the GBP/USD fell 0.7% against the dollar to 1.3713.
The DAX index in Germany gained 0.9%, and the CAC 40 in France rose 0.7%.
UK round-up
AstraZeneca PLC (ST:AZN) will pay Chinese drugmaker CSPC Pharmaceutical Group up to $18.5 billion in a licensing deal for experimental obesity and weight-related drugs, CSPC announced Friday.
The agreement includes an upfront payment of $1.2 billion, with potential additional payments of up to $17.3 billion if certain milestones are met. This deal expands on existing collaboration between the companies in areas including artificial intelligence.
In other market news, Airtel Africa Plc (LAGOS:AIRTELAFRI) shares fell approximately 6.6%, reversing early gains despite reporting strong third-quarter results. The telecommunications company posted a 31.0% increase in EBITDA to $836 million in constant currency terms, with margins expanding to 49.6%, up 278 basis points year-over-year. The results were driven by strong revenue growth in Nigeria and mobile money services.
Meanwhile, Antofagasta PLC (LON:ANTO) shares dropped 3.7% following a downgrade by UBS from "buy" to "neutral." UBS cited limited near-term growth momentum after the Chilean copper miner’s shares surged approximately 135% over the past 12 months on a total shareholder return basis in U.S. dollars, outperforming copper prices by roughly 90% and the COPX index by about 40%.
In the financial sector, Schroders PLC (LON:SDR) has held high-level discussions about potential partnerships to boost growth in its private capital business, according to Reuters. The British asset manager reportedly explored deals for Schroders Capital with French investment firm Wendel and London-listed Bridgepoint Group. These previously undisclosed talks, which took place several months ago, have since been paused for reasons that remain unclear.
Regarding monetary policy, Deutsche Bank expects the Bank of England to keep its Bank Rate at 3.75% in its February decision. The German bank forecasts a 7-2 vote split, with external Monetary Policy Committee members Alan Taylor and Swati Dhingra likely to favor a rate cut. Deutsche Bank analysts pointed to signs of economic resilience in the UK despite a fragile labor market, where unemployment has reached 5.1% in the three months to October.
