The blue-chip FTSE 100 index gained 0.9% to record its highest closing in nearly two years, with miner Glencore and energy majors BP and Royal Dutch Shell among the biggest boosts to the index. GlaxoSmithKline jumped 4.1% after it said over the weekend that it had rejected Unilever's offer for its consumer goods arm and would stick to its plan of spinning off the unit. A report said the company was in talks with banks for additional financing to make a potential sweetened offer. Analysts at Barclays said that Unilever's offer and the ensuing valuations are very complex to execute in normal times, let alone in the middle of a global pandemic. The domestically focussed mid-cap index rose 0.6%.


Source:   The Star
January 18, 2022 05:53 UTC