Glaxosmithkline Share News (GSK)

Heavy falls in the energy sector kept a lid on gains for the FTSE 100 on Thursday as investors awaited the outcome of a pivotal meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna.London's benchmark index was up just 0.06% at 6,733 by midday. The index has traded broadly sideways since hitting a two-month high last week.While US markets will be closed for the Thanksgiving holiday, the OPEC meeting could prompt some volatility on open markets as crude prices extended a four-year low on the back of a supply glut.Brent crude fell the fourth day in London, dropping by 2.4% to $75.88 a barrel, a 50-month low, on speculation that OPEC members will not agree to a reduction in output."Each member of the oil cartel is effectively waiting for someone else to blink first, the consensus being 'we'll cut if they cut'. Whilst in theory this sounds sensible, with no one actually willing to cut, oil looks set for another precipitous fall," said analyst Connor Campbell from Spreadex."The FTSE is suffering at the hands of weak oil, due to the prevalence of energy companies making up the index," he said.Elsewhere, speeches from European Central Bank president Mario Draghi, and ECB members Jens Weidmann and Vitor Constancio were in focus on Thursday, along with data on German unemployment, inflation and consumer confidence.Energy shares slumpOil and gas producers such as BG Group, Tullow Oil, Shell, BP, Afren and Enquest were trading firmly in the red as shares tracked crude prices lower ahead of the outcome of the crucial OPEC meeting.BG Group was also feeling the heat as the proposed £25m pay package for its new boss Helge Lund continues to spark anger. The Institute of Directors branded the remuneration "excessive" and "inflammatory".Stocks in the energy services sector were also under pressure on concerns that lower prices could prompt producers to scale back on project spend. Petrofac, which delivered a profit warning to investors last week on the back of lower oil prices and the timing of contracts, was a heavy faller, along with Hunting and Amec Foster Wheeler.Amec Foster Wheeler, however, was also trading lower after going ex-dividend, meaning that investors will no longer have access to the company's latest payout. A number of stocks others also went ex-dividend on Thursday, including Dunelm, Johnson Matthey, Royal Mail, SABMiller, Vedanta Resources, Lancashire Holdings, Wolseley and JD Wetherspoon.Glaxosmithkline was subdued despite saying it is on track to complete its complex three-way £11bn deal with Swiss pharmaceutical peer Novartis next year after US regulators approved the first two parts of the transaction.Stagecoach saw shares surge after its 90%-owned joint venture with Virgin Rail won the contract from the Department for Transport to run the new InterCity East Coast franchise for eight years from March 2015.Supermarket chain J Sainsbury was under pressure after Shore Capital downgraded its rating from 'hold' to 'sell', saying investors should expect a "material contraction in profitability".Market MoverstechMARK 2,921.98 +0.36%FTSE 100 6,732.95 +0.06%FTSE 250 15,896.07 +0.68%FTSE 100 - RisersSmith & Nephew (SN.) 1,131.00p +2.17%Anglo American (AAL) 1,375.00p +2.04%ITV (ITV) 211.40p +2.03%Barclays (BARC) 242.10p +1.72%Intu Properties (INTU) 354.10p +1.64%Rio Tinto (RIO) 3,049.00p +1.57%Admiral Group (ADM) 1,233.00p +1.40%Coca-Cola HBC AG (CDI) (CCH) 1,447.00p +1.33%Mondi (MNDI) 1,083.00p +1.22%Land Securities Group (LAND) 1,187.00p +1.19%FTSE 100 - FallersPetrofac Ltd. (PFC) 874.00p -2.83%BG Group (BG.) 1,031.50p -1.72%Sainsbury (J) (SBRY) 235.10p -1.63%Morrison (Wm) Supermarkets (MRW) 178.70p -1.22%Royal Dutch Shell 'B' (RDSB) 2,339.00p -1.16%Tesco (TSCO) 185.10p -1.12%Royal Mail (RMG) 418.90p -0.99%Weir Group (WEIR) 2,038.00p -0.97%Sky (SKY) 915.50p -0.92%Rolls-Royce Holdings (RR.) 860.00p -0.81%FTSE 250 - RisersZoopla Property Group (WI) (ZPLA) 207.50p +9.10%Stagecoach Group (SGC) 397.70p +7.49%Shaftesbury (SHB) 809.50p +6.23%JD Sports Fashion (JD.) 507.00p +6.16%RPC Group (RPC) 577.00p +5.48%Riverstone Energy Limited (RSE) 905.00p +5.05%National Express Group (NEX) 252.20p +4.73%Thomas Cook Group (TCG) 118.80p +4.67%SSP Group (SSPG) 256.30p +4.61%Britvic (BVIC) 681.00p +3.97%FTSE 250 - FallersLancashire Holdings Limited (LRE) 546.50p -12.28%Amec Foster Wheeler (AMFW) 1,027.00p -3.02%EnQuest (ENQ) 63.10p -2.92%3i Infrastructure (3IN) 146.00p -2.28%Hunting (HTG) 659.50p -2.08%Afren (AFR) 63.95p -1.84%Spire Healthcare Group (SPI) 315.40p -1.59%Saga (SAGA) 154.20p -1.47%Tate & Lyle (TATE) 602.50p -1.47%Evraz (EVR) 150.30p -1.31%