LONDON (Reuters) – Shares in British consumer goods company Reckitt Benckiser jumped over 10% on Friday after the company, along with U.S.-based Abbott Labs, was cleared of liability in a preterm formula case. “This feels like a big deal to us, putting a spoke in the wheels of what has hitherto been an unremittingly adverse […]
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Reckitt Benckiser up 10% after being cleared of liability in preterm formula case
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LONDON (Reuters) – Shares in British consumer goods company Reckitt Benckiser jumped over 10% on Friday after the company, along with U.S.-based Abbott Labs, was cleared of liability in a preterm formula case.
“This feels like a big deal to us, putting a spoke in the wheels of what has hitherto been an unremittingly adverse narrative,” said RBC analysts James Edwardes Jones and Fon Udomsilpa.
By 0813 GMT, shares in Reckitt Benckiser were up 10.5% at 51.70 pounds, their highest level since March.
(Reporting by Samuel Indyk, editing by Alun John)