The FTSE 100 is up 0.4% 7,222.45 as positively received corporate results help provide the index with a lift on Thursday.
Pharmaceutical giant AstraZeneca (AZN) gains 4% to £59.49 after a 'strong' fourth quarter led by performance of new medicines underscored its return to growth and saw the drugmaker meet its guidance.
For the 12 months to 31 December, revenue fell 2% to $22.1bn and product sales rose 4% to $21.05bn, which was in line with guidance for low-single-digit growth. While earnings per share fell 19% to $3.46 a share, toward the upper end of guidance for earnings of $3.30 to $3.50 a share.
UK software company Micro Focus International (MCRO) posts a better-than-expected 5.3% decline in pro-forma revenue for the 12 months to 31st October and anticipates this more positive trend would continue as its shares soar 12% to £17.
Group pro-forma revenue fell 5.3% over the period to £4bn at constant currency. This compares with guidance for a 6% to 9% decline. Pro-forma adjusted EBITDA, meanwhile, rose 9.2% to $1.5bn.
Along with news of an enhanced share buyback and increased dividend the market took this as a sign the company is putting the troubled integration of HPE behind it.
Low-cost airline EasyJet (EZJ) confirms it is in discussions with Ferrovie dello Stato Italiane and Delta Air Lines about forming a consortium to explore a take over of Italian national carrier Alitalia. Its shares tick up 1% to £12.95.
Price comparison website Moneysupermarket.com (MONY) reports an 8% increase in group revenue in 2018 as it makes 'significant progress' in executing its strategy to boost growth in its core markets and unlock new ones.
For the year ending 31 December 2018, the company says that group revenue climbed 8% to £355.6m while operating profit grew 14% to £108m. The shares advance 4.9% to 328p.
UK restaurant and pub chain The Restaurant Group (RTN) dives 11% to 130p on news that chief executive Andy McCue is to step down from his position due to 'extenuating personal circumstances'.
The company says a search for his replacement will start immediately and anticipates that McCue would remain in position during the recruitment process.
Medical products firm ConvaTec (CTEC) dives 18.9% to 120.2p as it says annual results were 'disappointing' even as they met the company's previously revised expectations. Investors were unconvinced by assurances that the company's 'Pivot to Growth' turnaround programme would help steady performance.
For the 12 months ended 31 December 2018, revenue rose 3.8% to $1,8bn and just 0.2% organically. While reported earnings (EBIT) were up 8% to $267.7m due to lower restructuring and pre-IPO share-based payments.
