FTSE 100 today: Index edges higher amid trade optimism; pound strengthens

Investing.com -- U.K. stocks edged slightly higher on Monday amid renewed optimism over progress in U.S.-China trade talks, while broader European markets gained, and the pound strengthened against the dollar.

The blue-chip FTSE 100 rose 0.1%, while the British GBP/USD edged up 0.2% against the dollar to 1.3332.

The DAX index in Germany rose 0.3% and the CAC 40 in France gained 0.2%. 

4basebio stock jumps as pharma partner begins clinical trials with DNA tech

4basebio (LON:4BB) stock surged 10.3% after the company announced that a global Tier 1 pharmaceutical partner has started dosing patients in Phase I/II clinical trials using its proprietary opDNA® template.

The clinical trials commenced following approval from the U.S. Food and Drug Administration (FDA), representing a key advancement for the Cambridge-based synthetic DNA provider.

According to the company, the unnamed pharmaceutical partner is utilizing 4basebio’s technology for an mRNA product. This development marks an important milestone in the adoption of synthetic DNA for advanced genetic medicines.

Greencore-Bakkavor £1.2 bln merger faces UK regulator scrutiny

Britain’s competition watchdog has raised concerns about the proposed £1.2 billion ($1.61 billion) merger between convenience food manufacturers Greencore and Bakkavor Group PLC (LON:BAKK).

The Competition and Markets Authority (CMA) said that the deal might reduce competition in the supply of own-label chilled sauces.

Both Greencore and Bakkavor are major suppliers in the UK’s ready-made food sector. The CMA’s concerns specifically focus on how the merger could impact the market for store-brand chilled sauce products.

HSBC sets aside $1.1 billion for Madoff-related lawsuit in Luxembourg

HSBC Holdings PLC (LON:HSBA) is allocating $1.1 billion to address a lawsuit in Luxembourg linked to Bernard Madoff’s Ponzi scheme, which stands as one of the largest financial frauds in U.S. history.

The London-based bank announced Monday that a subsidiary is currently defending against a claim filed by Herald Fund SPC. The legal action seeks restitution of securities and cash connected to the Bernard L. Madoff Investment Securities LLC fraud.