Glaxosmithkline Share News (GSK)

The London market closed in positive territory for the second time this week as traders weary of negative economic news took heart from upbeat corporate results.The FTSE 100 Index ended the session 27.4 points ahead at 6399.73 as drug group GlaxoSmithKline pleased investors with news of higher earnings per share despite US and European weakness. It also said it was launching a restructuring drive to cut costs and streamline its business. Glaxo's shares bounced 35p to 1,377p.On the economic front, minutes from the Bank of England's most recent meeting showed no further urge by members to start thinking about raising interest rates, with the split between 'doves' and 'hawks' remaining unchanged from the last meeting at 7-2.Capital Spreads dealer William Nicholls said: "Given the volatility in financial markets of late, there is unlikely to be any move on this sentiment since the meeting, if anything they are likely to become more accommodative."Investors took cover in car insurers after the Automobile Association (AA) said price declines in the industry were over.Admiral Group ticked up 42p to 1285p and Direct Line advanced 8.5p to 279.6p. But the AA itself reversed 2.25p or 0.72% to 310.25p.Supermarkets were on the slide after Waitrose said the business model of the Big Four retailers was outdated and insolvency group Begbies Traynor forecast a bad Christmas unless they make changes.Sainsbury was 8.4p off at 241.6p, Morrisons backtracked 4.2p to 157.9p and Tesco, which releases first-half results tomorrow, fell 2.9p to 183p.British American Tobacco wafted 91.5p lower to 3375p after warning of a foreign exchange hit and weak European markets.Fashion house Supergroup faded 54p to 975p as worries about the impact on sales of warm autumn weather eclipsed news that former Co-op boss Euan Sutherland was to become its new chief executive.Market MoverstechMARK 2,674.09 +1.20%FTSE 100 6,399.73 +0.43%FTSE 250 15,170.06 +0.97%FTSE 100 - RisersAdmiral Group (ADM) 1,285.00p +3.38%Direct Line Insurance Group (DLG) 279.60p +3.14%GlaxoSmithKline (GSK) 1,377.00p +2.61%ARM Holdings (ARM) 827.00p +2.61%Whitbread (WTB) 4,298.00p +2.33%Old Mutual (OML) 181.90p +2.19%Babcock International Group (BAB) 1,079.00p +2.18%Smith & Nephew (SN.) 982.50p +2.13%Dixons Carphone (DC.) 374.30p +2.10%Royal Mail (RMG) 448.70p +1.98%FTSE 100 - FallersSainsbury (J) (SBRY) 241.60p -3.36%Fresnillo (FRES) 784.00p -3.03%British American Tobacco (BATS) 3,375.00p -2.64%Morrison (Wm) Supermarkets (MRW) 157.90p -2.59%Randgold Resources Ltd. (RRS) 4,170.00p -2.55%Rio Tinto (RIO) 3,089.50p -1.61%Tesco (TSCO) 183.00p -1.56%BHP Billiton (BLT) 1,664.50p -1.48%Weir Group (WEIR) 2,258.00p -1.44%Anglo American (AAL) 1,356.50p -1.31%FTSE 250 - RisersPace (PIC) 335.90p +9.20%Zoopla Property Group (WI) (ZPLA) 214.00p +6.47%esure Group (ESUR) 235.00p +5.90%Croda International (CRDA) 2,215.00p +5.83%Laird (LRD) 310.00p +5.19%Playtech (PTEC) 737.50p +5.06%International Personal Finance (IPF) 480.00p +5.03%Keller Group (KLR) 797.50p +4.93%Ophir Energy (OPHR) 209.50p +4.23%Foxtons Group (FOXT) 205.30p +4.21%FTSE 250 - FallersSupergroup (SGP) 975.00p -5.25%Lonmin (LMI) 181.90p -2.83%AO World (AO.) 173.00p -2.54%Cairn Energy (CNE) 157.40p -2.36%Senior (SNR) 268.90p -2.36%Balfour Beatty (BBY) 161.80p -2.35%EnQuest (ENQ) 74.85p -1.84%Entertainment One Limited (ETO) 303.50p -1.78%African Barrick Gold (ABG) 195.00p -1.71%Poundland Group (PLND) 316.50p -1.71%