FTSE 100 index 0.3% up on GlaxoSmithKline deal

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Source: Dukascopy Bank SA
UK FTSE 100 index edged higher on a choppy trade on Tuesday led by GlaxoSmithKline and miners. Moreover data showed UK's annual industrial output contracted for a 14th straight month in April. Rio Tinto and BHP Billiton partly rebounded from yesterday's drop, adding 1.2% and 1.5% respectively. Pharmaceutical giant GlaxoSmithKline gained 0.6% on news its subsidiary Stiefel will acquire prescription drug Toctino from Basilea Pharmaceutica. At the moment of writing FTSE 100 is 0.3% or 18 points up at 5,450.

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