FTSE hits six-week high as AstraZeneca jumps again

The FTSE 100 has risen 0.7% in early trading to touch its highest level in six weeks, driven by gains for pharmaceutical giant AstraZeneca and the mining sector.

The index was trading at 6,722 by midday Thursday, its highest level since 10 March, after results in the UK and elsewhere helped cheer sentiment. AstraZeneca was the largest gainer, rising 5% to £42.42 after its Q1 results were well-received by investors. The group announced a 17% year-on-year fall in earnings per share but said it was looking at spinning off non-core divisions, similar to the move made by peer GlaxoSmithKline earlier this week. The stock had already jumped sharply on Tuesday after speculation over the weekend that it could be acquired by larger US rival Pfizer. ...