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UK stocks fell today following Thursday's Wall Street
losses, as better-than-expected US data raised concerns that the US Federal
Reserve will delay cutting interest rates this year.
Despite signs of persistent inflation, major US stock
indexes opened higher.
Gold prices rose on Friday but were headed for their first
weekly decline in three weeks due to fading expectations of interest rate cuts
after the Fed's hawkish comments.
Oil prices remained stable as investors weighed the Fed's
remarks on interest rates and noted signs of increasing seasonal US fuel
demand.
Pharmaceutical giant GlaxoSmithKline has won a significant
personal injury case in the US over its heartburn medicine Zantac.
Angela Valadez, an 89-year-old Illinois resident, claimed
Zantac caused her colon cancer, seeking $640m in damages. However, a jury
determined the medication was not responsible. Zantac, the brand name for
ranitidine, was popular for treating indigestion and heartburn since the 1980s.
In 2019, high levels of NDMA, a potential carcinogen, were
found in ranitidine, leading to its discontinuation in the UK and US in 2020.
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