<!–
<!–
<!– <!–
<!–
<!–
<!–
Haleon’s largest shareholder is selling a £2bn stake in the group.
US pharmaceutical manufacturer Pfizer will sell around 630 million shares, reducing its stake in toothpaste maker Sensodyne from 32 percent to 24 percent.
Pfizer will also sell shares worth around £315m back to Haleon, whose shares fell 2.3 per cent, or 7.3p, to 315p.
Haleon, which is also behind Otrivine nasal drops and painkillers Panadol and Advil, floated in London at 330p in July 2022.
Before the listing, it was the consumer healthcare business which was run by GSK (up 0.7 per cent, or 11.2p, to 1660.8p) and Pfizer.
Stake sale: US pharmaceutical manufacturer Pfizer will sell around 630 million shares of Haleon, reducing its stake in toothpaste maker Sensodyne from 32% to 24%
The London pharmaceutical giant held 68 percent while its American counterpart held the rest.
GSK spun off the consumer healthcare arm in 2022 and listed it as a separate company, creating Haleon.
Two months ago, GSK – which holds a 4.2 percent stake – also sold 300 million shares. In broader markets, the FTSE 100 edged down 0.06 percent, or 4.87 points, to 7,722.55 and the FTSE 250 lost 0.1 percent, or 26.38 points, to 19 486.53.
Rolls-Royce has once again come close to the record.
Shares in the jet engine maker, which peaked at 396.5p in January 2014, fell 0.9 per cent, or 3.5p, to 390p yesterday.
Easyjet won following an optimistic update from its boss Johan Lundgren, who said the airliner’s business travel would return to the same levels as before the pandemic.
He also said the company expects its capacity to increase by 8 percent this summer thanks to aircraft deliveries.
Stock market watch – Focusrite
A slowdown in business will hit profits at music and audio products group Focusrite.
The company expects to make at least £155m in revenue in the year ending at the end of August, as well as a profit of between £27m and £30m.
That would be less than the £180m turnover and £38m profit forecast by analysts.
The company blamed sharp declines in sales in China and Japan, weak consumer demand and delivery delays of its new audio mixers.
Shares fell 26 per cent, or 100p, to 285p.
Shares added 0.8 per cent, or 4.4p, to 534p.
Aston Martin gained 5 per cent, or 7.9p, to 167.4p after Bank of America analysts upgraded the luxury car maker’s rating.
The broker said the company was “turning the corner” now that it had consolidated its finances.
Aviva has sold its stake in Singapore Life for £937 million.
In September last year, the insurer agreed to sell its 25.9 per cent stake in Singlife along with two debt securities to Sumitomo Life for £800 million.
Three months later, Aviva announced it stood to pocket £930 million from the deal. And yesterday he revealed the price tag was even higher, at £937million.
Shares fell 0.4 per cent, or 1.7p, to 480.7p. Property developer British Land has teamed up with asset manager Royal London to transform the former headquarters of Facebook owner Meta into a science and technology hub.
The joint venture between the two partners aims to transform the £385 million Euston site into a facility housing laboratories and offices. Shares in British Land rose 1.2 per cent, or 4.3p, to 372.5p.
Reckitt Benckiser, which makes Cillit Bang, recouped some of last week’s losses.
The consumer giant behind brands including Nurofen, Dettol and Durex revealed on Friday that it had been ordered to pay £50 million to the mother of a premature baby who died after being fed Enfamil formula of the company.
Shares fell 14.6 per cent on Friday but rose 2 per cent, or 89p, to 4575p yesterday.