Shire Share News (SHP)

LONDON (Alliance News) - Stock prices in London are seen opening marginally lower on Friday as investors await a meeting of US and Chinese leaders at the G20 summit.IG futures indicate the FTSE 100 index is to open down 3.25 points at 7,035.70. The blue chip index closed up 34.43 points, or 0.5%, at 7,038.95 Thursday.In early UK corporate news, Babcock International group won a new contract in Canada and Bioquell agreed to be acquired by St Paul, Minnesota-headquartered firm Ecolab. FTSE 250-listed Babcock International said it won its first firefighting contract outside Europe. The contract from the government of Manitoba in Canada is worth around GBP100 million over ten years and will begin in April next year. The engineering services company said it will manage, maintain and operate Manitoba's fleet of seven firefighting fixed-wing Canadair water-bomber amphibious aircraft, supported by three of its own twin commander aircrafts. "This marks our first aviation emergency services contract in Canada, and we are delighted to be trusted to deliver this critical service. We have over 30 years' experience of aerial firefighting, and this new contract positions us well for any future opportunities in the North American market," said Chief Executive Archie Bethel. Biodecontamination products provider Bioquell said it has agreed to be acquired by US water, hygiene and energy technologies provider Ecolab for 590 pence in cash.The deal values Bioquell at around GBP140.5 million and the offer represents a 40% premium to Bioquell's closing share price of 420 pence on Thursday. Bioquell said its board has unanimously recommended Ecolab's offer to shareholders."As part of Ecolab, Bioquell will be able to drive faster strategic growth in both life sciences and healthcare markets leveraging Ecolab's extensive global footprint. The Bioquell Directors believe the strategic fit is extremely strong and that the combination offers employees and customers a highly desirable opportunity to continue Bioquell's successful tradition," said Bioquell Chairman Ian Johnson. Irish drugmaker Shire said it obtained European approval for its human monoclonal antibody Takhzyro intended for treatment of hereditary angioedema. Late Thursday, index provider FTSE Russell said Shire shares will be de-listed in London on January 2 due to its acquisition by Japan's Takeda Pharmaceutical. Later Friday, world leaders are set to open a two-day Group of 20 summit in Argentina, with global trade concerns expected to dominate, while the flare up in Russia-Ukraine tensions and the fallout from the murder of Saudi dissident Jamal Khashoggi are also likely to feature.While there have been some signs that Chinese and US delegations could reach a ceasefire on trade, there are growing worries that President Donald Trump and President Xi Jinping will not be able to make a breakthrough at their highly-anticipated meeting at the summit.Before departing Washington on Thursday, Trump said he was "very close" to reaching a deal with China but added: "I don't know that I want to do it because what we have right now is billions and billions of dollars coming into the US in the form of tariffs or taxes."The pound was flat, quoted at USD1.2778 from USD1.2780 at the London equities close Thursday.The pound remained under pressure after UK Prime Minister Theresa May on Thursday warned of a no-deal Brexit if parliament votes down her deal on December 11.The economic events calendar has Italy inflation and unemployment figures at 0900 GMT and 1000 respectively, and eurozone unemployment and inflation readings at 1000 GMT.In the US on Thursday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.1%, S&P 500 down 0.2% and Nasdaq Composite ending 0.3% lower.Minutes from the Federal Reserve's monetary policy meeting held earlier this month are likely to reinforce expectations for another quarter-point increase in US interest rates next month.The minutes of the Federal Open Market Committee meeting said almost all participants agreed another increase in rates was "likely to be warranted fairly soon".The Fed noted a near-term rate hike would be dependent on incoming information on the labour market and inflation coming in line with or stronger than current expectations.In Asia, the Japanese Nikkei 225 index closed up 0.4%. In China, the Shanghai Composite closed up 0.7%, and the Hang Seng index in Hong Kong is up 0.6%.China's manufacturing activity continued to slow in November amid a prolonged trade war with the US, official data showed Friday.The manufacturing purchasing managers index came in at 50, compared to 50.2 in October, its worst result in more than two years. A figure above 50 indicates growth and one below 50 indicates contraction.The services PMI also slowed to 53.4 this month, down from 53.9 in October, the National Bureau of Statistics said.China's economy is feeling the effects of tariffs imposed earlier this year by the US, which accuses Beijing of unfair trade practices.