Drugs giant Roche gets green light for $4.3bn Spark deal

Swiss drugs maker Roche got the go-ahead from Britain's Competition and Markets Authority (CMA) for a $4.3 billion takeover of gene therapy start-up Spark Therapeutics.

The deal would allow Roche to enter the gene therapy space, while adding to its hemophilia drugs portfolio. The Swiss company already has the treatment Hemlibra, which is due to top $1 billion in sales this year.

The deal was scrutinized by the CMA, which said in a statement: "The CMA ... found that the deal between Roche and Spark would not negatively affect competition."

Roche hopes to close the deal by the end of 2019.

Sports Direct's first-half earnings soar 22%

British sportswear retailer Sports Direct reported a 22 percent increase of earnings in the first half, after losses in its premium unit, which includes Flannels and House of Fraser, improved.

The company, led by Mike Ashley, said the recent UK general election result means less market unpredictability and this added to the efficiency measures it already in has place puts them in a good position for sustainable growth.

Earnings came in at $232.48 million compared with the $198.69 million it made in the same period last year.

French businesses defy strikes to post growth

French business grew at a steady pace in December, despite a nationwide protest against the government's planned pensions reform. Activity in the manufacturing sector, however, came close to stagnating, according to a survey published on Monday.

Its preliminary monthly purchasing managers index fell marginally to 52.0 from 52.1 in November. However, the result was comfortably above the 50-point level that indicates growth.

"The latest PMI data pointed to further activity growth in the French private sector, but revealed disappointing results for the manufacturing sector," IHS Markit economist Eliot Kerr said.

The index for the manufacturing sector eased to 50.3 from 51.7 in November.

Sterling rises post-election

In the early London trade on Monday the pound rose 0.6 percent against the dollar to a high of $1.3422, buoyed by the result of the UK general election, in which the Conservative Party won a resounding majority. The currency is on course to hit a 19-month high.

UK Prime Minister Boris Johnson, who will start a new five-year term in office, said he will deliver Brexit by 31 January and agree a new trade deal with the European Union by the end of 2020, which pleased market watchers.