Glaxosmithkline Share News (GSK)

UK stocks reached a two-week high on Friday on the back of decent performances from heavyweights Vodafone and HSBC, along with gains in defensive categories such as pharmaceuticals.Markets across Europe were struggling to push higher on concerns about Greece, while Wall Street opened in the red on speculation surrounding interest rates.However, gains from a number of the biggest blue chips in London gave the FTSE 100 a boost, with the index settling 18.25 points higher (+0.26%) at 7,031.72. It has not closed above this level since 8 May.US stocks fell after the opening bell after data showed that the core rate of US consumer price inflation picked up to its highest since January 2013, raising concerns that the Federal Reserve may move sooner than expected to tighten monetary policy.Data released during the morning showed that the UK budget deficit narrowed in April from last year. Public sector net borrowing excluding state-controlled banks fell 27% from a year earlier to £6.8bn, compared with economists' expectations for a shortfall of £8.1bn, thanks to stronger tax receipts.Meanwhile, the German Ifo business climate index nudged down to 108.5 in May from 108.6 in April, marking its first drop since October last year, but still a touch ahead of analysts' expectations for a reading of 108.3.Vodafone and HSBC lead markets higher Vodafone's stock continued its surge this week as speculation continued about a merger or partial take over by Liberty Global. Positive comments from the likes of Goldman Sachs and Deutsche Bank about Vodafone's recent results were also seen helping the shares."A successful outcome to any discussions would signal that big M&A is back on the agenda, after a relatively quiet period following the end of 'tax inversion' deals being pursued by US firms," said IG analyst Chris Beauchamp.HSBC rose after confirming rumours that it is looking at a possible disposal of its Brazilian operations, though it has not yet made a decision. Recent reports suggested that Banco Santander's Brazilian unit could be a potential buyer.Defensive sectors such as pharmaceuticals, beverages and tobacco were performing well with investors looking for higher-yielding stocks towards the end of the week. Glaxosmithkline, Astrazeneca, SABMiller, Diageo, British American Tobacco and Imperial Tobacco, all within the top 25 of the FTSE 100 in terms of market cap, all finished in positive territory.Tobacco stocks may also have been bolstered by the news that British American and Philip Morris have filed a challenge to the UK government's plain packaging laws.Shares of building materials peers Wolseley, Travis Perkins, Howden Joinery Grafton Group were all on the rise after Jefferies upgraded all four stocks by two notches from 'underperform' to 'buy'.Shareholders of Costa and Premier Inn owner Whitbread gave a cool reaction to the news that the company has appointed Alison Brittain, current head of Lloyds's high street banking division, as its new chief executive. Market MoverstechMARK 3,302.85 +0.50%FTSE 100 7,031.72 +0.26%FTSE 250 18,192.69 +0.21%FTSE 100 - RisersVodafone Group (VOD) 253.75p +4.64%Travis Perkins (TPK) 2,208.00p +1.47%Dixons Carphone (DC.) 468.00p +1.41%Randgold Resources Ltd. (RRS) 4,779.00p +1.40%Weir Group (WEIR) 1,937.00p +1.10%AstraZeneca (AZN) 4,473.50p +1.10%National Grid (NG.) 918.50p +1.03%G4S (GFS) 298.50p +1.02%Rio Tinto (RIO) 2,902.50p +1.01%London Stock Exchange Group (LSE) 2,459.00p +0.99%FTSE 100 - FallersInternational Consolidated Airlines Group SA (CDI) (IAG) 542.50p -2.08%TUI AG Reg Shs (DI) (TUI) 1,180.00p -1.99%BT Group (BT.A) 451.05p -1.76%Antofagasta (ANTO) 774.00p -1.40%easyJet (EZJ) 1,591.00p -1.18%Royal Dutch Shell 'B' (RDSB) 2,000.50p -1.01%Aggreko (AGK) 1,595.00p -0.99%Whitbread (WTB) 5,210.00p -0.95%BG Group (BG.) 1,156.00p -0.90%Aviva (AV.) 538.00p -0.74%FTSE 250 - RisersJust Eat (JE.) 456.00p +5.16%Zoopla Property Group (WI) (ZPLA) 230.00p +3.05%Dairy Crest Group (DCG) 501.00p +2.85%Allied Minds (ALM) 604.00p +2.81%Fidelity China Special Situations (FCSS) 173.50p +2.60%Halfords Group (HFD) 488.50p +2.41%Keller Group (KLR) 999.00p +2.10%Interserve (IRV) 627.00p +2.03%Bank of Georgia Holdings (BGEO) 1,939.00p +2.00%Acacia Mining (ACA) 299.70p +1.97%FTSE 250 - FallersPayPoint (PAY) 875.00p -3.21%Premier Oil (PMO) 164.80p -3.06%Tullow Oil (TLW) 414.90p -2.45%Telecom Plus (TEP) 836.00p -2.45%Ophir Energy (OPHR) 133.90p -2.33%Poundland Group (PLND) 314.70p -2.05%Soco International (SIA) 190.10p -1.86%Playtech (PTEC) 827.50p -1.84%Euromoney Institutional Investor (ERM) 1,177.00p -1.83%Greencore Group (GNC) 346.60p -1.79%