UK’s FTSE 100 edges higher on AstraZeneca boost; Network International shines

UK’s FTSE 100 inched up on Friday boosted by AztraZeneca gains after the drugmaker got U.S. regulator’s nod for an experimental antibody, while payments provider Network (LON:NETW) International surged on reaching an agreement to be taken private.

The FTSE 100 benchmark index rose 0.1% as of 0711 GMT, boosted by a 0.8% gain in AstraZeneca (NASDAQ:AZN) after the U.S. Food and Drug Administration advisers backed the use of the drug maker and partner Sanofi (EPA:SASY)’s experimental antibody to prevent respiratory infections in infants.

The broader healthcare sector added 0.6%.

The FTSE 250 midcap index, however, shed 0.2%.

Network International jumped 5.6%, after Canada’s Brookfield Asset Management said it had reached an agreement with the payments provider for a cash offer of 2.2 billion pounds ($2.76 billion).

Bucking the trend, the chemicals sector shed 6.8%, dragged down by Croda International falling a 11.3% to hit a near three-year low, after the chemicals firm forecast annual profit before tax below expectations.