Shares digital

According to reports, the Serious Fraud Office has asked Smith & Nephew (SN.) to hand over documents as part of an investigation into claims that British companies were involved in corrupt contracts in Iraq towards the end of Saddam Hussein’s era. Reports suggest S&N made payments of around £27,000. Pharma giants GlaxoSmithKline (GSK) and AstraZeneca (AZN) have also been asked to submit documents. The negative news was not reflected in S&N’s shares, which rose 3% to 596p. Broker Landsbanki has reiterated its ‘hold’ recommendation.

Shares says: Shouldn’t cause too many problems. RR