UK stocks slightly up, Shire gains 4% after a purchase proposal by Abbvie Inc.

Shares in the United Kingdom marked a slight daily advance on Friday, despite increased concerns among investors that geopolitical tension between the Russian Federation and Ukraine is gaining intensity, following the tragedy with the Malaysian aircraft over Ukraine.

Ukrainian government accused pro-Russian rebels of shooting down the Malaysian Airlines flight from Amsterdam to Kuala Lumpur, which led to the death of all 298 passengers. Russia denied any involvement.

The FTSE 100 Index (UKX:IND) gained 0.17%, or 11.13 points, to close at 6,749.45 on Friday in London. This led to a weekly advance for the benchmark of 0.93%, or the largest gain since the week ended on June 29th. The wider benchmark, FTSE All-Share Index, rose 0.1%.

Shares of Shire PLC (SHP:LN) added 190.000 GBp, or 3.95%, to close at 4,996.000 GBp, which marked the best daily performance within the FTSE 100 and also the largest daily gain since June 11th. Abbvie Inc. announced its intentions to purchase the Dublin-based drugmaker for about 32 billion GBP (54.8 billion USD). Shire shareholders are to receive cash and stock estimated at 52.48 GBP per share.

Shares of ITV PLC (ITV:LN) climbed 3.79%, or 7.400 GBp, to close at 202.500 GBp on Friday, marking a three-day advance of 13.55%. According to Bloomberg, Liberty Global Plc purchased a minority stake in the media broadcaster.

Shares of British Sky Broadcasting Group PLC (BSY:LN), the company which sold its stake in ITV, added 20.000 GBp, or 2.23%, to close at 917.500 GBp. On a weekly basis the company gained 4.38%, or the most since the week ended on December 22nd.

GKN PLC (GKN:LN), which produces automotive components and aerospace vehicles, recorded the most considerable loss within the FTSE 100 on Friday, falling 1.61% (5.700 GBp) to close at 348.600 GBp, while its two-day loss amounted to 3.11%. The latter was the largest since the 4.48% drop, registered on July 7th and July 8th.

Royal Bank of Scotland Group PLC (RBS:LN) marked the second largest daily retreat within the FTSE 100 Index, 1.39%, or 4.500 GBp, to close at 319.200 GBp. This boosted the companys two-day loss to 3.30%. The Competition and Markets Authority in the UK said that there is no competition within the industry and it may embark on an in-depth investigation into small-business lending, Bloomberg reported.