Haleon’s top shareholder is selling a £2billion stake in the group.
US drugmaker Pfizer will offload around 630m shares – reducing its holding in the Sensodyne toothpaste maker from 32 per cent down to 24 per cent.
Pfizer will also sell around £315million worth of stock back to Haleon, whose shares fell 2.3 per cent, or 7.3p, to 315p.
Haleon, which is also behind Otrivine nasal drops and painkillers Panadol and Advil, floated in London at 330p in July 2022.
Prior to listing, it was the consumer healthcare business that was run by GSK (up 0.7 per cent, or 11.2p, to 1660.8p) and Pfizer.
Stake sale: US drugmaker Pfizer will offload around 630m Haleon shares – reducing its holding in the Sensodyne toothpaste maker from 32% down to 24%
The London pharma giant owned 68 per cent while its US counterpart held the rest.
GSK spun off the consumer healthcare arm in 2022 and listed it a separate company, creating Haleon.
Two months ago GSK – which holds a 4.2 per cent stake – also sold 300m shares. On the wider markets, the FTSE 100 edged down 0.06 per cent, or 4.87 points, to 7722.55 and the FTSE 250 lost 0.1 per cent, or 26.38 points, to 19486.53.
Rolls-Royce once again came agonisingly close to hitting a record high.
The jet engine maker’s stock, which peaked at 396.5p in January 2014, yesterday fell 0.9 per cent, or 3.5p, to 390p.
Easyjet gained following a bullish update from its boss Johan Lundgren, who said the airliner’s business travel will return to the same levels as before the pandemic struck.
He also said that the firm is forecasting its capacity will grow by 8 per cent this summer thanks to aircraft deliveries.
Stock Watch – Focusrite
A slowdown in business will hit profits at music and audio products group Focusrite.
The business expects to make at least £155million of revenues in the year to the end of August alongside a profit of between £27million and £30million.
That would be less than the £180million of revenue and £38million profit pencilled in by analysts.
The firm blamed a sharp slump in sales in China and Japan, weak consumer demand and shipping delays for its new audio mixers.
Shares tumbled 26 per cent, or 100p, to 285p.
Shares added 0.8 per cent, or 4.4p, to 534p.
Aston Martin gained 5 per cent, or 7.9p, to 167.4p after analysts at Bank of America upgraded the luxury car maker’s rating.
The broker said the company is ‘turning the corner’ now it has shored up its finances.
Aviva has sold its stake in Singapore Life for £937million.
In September last year the insurer agreed to sell its 25.9 per cent holding in Singlife alongside two debt instruments to Sumitomo Life for £800million.
Three months later Aviva said it should pocket £930million from the deal. And yesterday it revealed the price was even higher at £937million.
Shares dropped 0.4 per cent, or 1.7p, to 480.7p. Property developer British Land has teamed up with the asset manager Royal London to turn the former headquarters of Facebook owner Meta into a science and technology hub.
The pair’s joint business wants to transform the site in Euston, which is valued at £385million, into a facility housing labs and office spaces. Shares in British Land increased 1.2 per cent, or 4.3p, to 372.5p.
Reckitt Benckiser, which makes Cillit Bang, clawed back some of last week’s losses.
On Friday the consumer giant behind brands such as Nurofen, Dettol and Durex revealed it was ordered to pay £50million to the mother of a premature baby who died after being fed the company’s Enfamil baby formula.
Shares tumbled 14.6 per cent on Friday but rose 2 per cent, or 89p, to 4575p yesterday.
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