LIVE: GDP grows 0.7% in Q1; keywords primed for acquisition; Nightcap to delist

Nearly £5bn has been wiped off GSK’s value after a top US health agency limited the scope of its successful respiratory vaccine.

In a new setback for the UK pharmaceutical giant, the US public health agency, the CDC, said vaccines against respiratory syncytial virus (RSV) should not be given to those under 60 years of age.

The ruling came just weeks after the U.S. Food and Drug Administration (FDA) gave GSK the green light to expand use of its Arexvy vaccine from people over 60 to those between 50 and 59.

Keywords Studios is on track to receive £1.96 billion from European private equity group EQT, the Dublin-based video games services firm said on Friday.

The updated offer of 2,450 pence per share follows a possible revised cash offer of 2,430 pence received on June 26, and the board would recommend the proposal to its shareholders if EQT makes a firm offer, Keywords said in a statement.

Lindsay James, Investment Strategist at Quilter Investors:

‘The Bank of England expects a more modest growth rate of 0.2% in the second quarter, which although forecast before the election announcement and indeed the publication of better-than-expected first quarter figures, may end up being close to the truth as recent surveys have indicated a pause in spending decisions within the crucial services sector during the election period.

“The second half of 2024 is likely to take time to shift gears, despite the energy of a likely new government, and no notable changes are likely to be felt until 2025.

‘However, attention is already shifting, at least marginally, to UK stock markets, which are not only trading at near-record discounts to US shares, but have also sparked speculation about bids in companies that They range from Anglo American to Royal Mail and John Wood Group, to name just a few. While the numerous obstacles that have held back our local market remain, valuations appear to have become too tempting for international investors to ignore.

“The wet spring that has firmly held back the retail sector is finally giving way to warmer weather and interest rates are likely falling by the end of the year, so further growth may very well be on the way. However, until “Until the next budget clarifies tax and spending plans, businesses are unlikely to invest on a large scale, further delaying any significant acceleration in GDP growth.”

Britain’s economy grew more than initially thought in the first three months of the year, the Office for National Statistics said on Friday, improving earlier estimates of quarter-on-quarter growth from 0.6 percent to 0.7 percent.