Reckitt Benckiser has agreed to buy US baby formula firm Mead Johnson for $16.6bn. The UK based household goods firm hopes the acquisition will aid Chinese growth and help them become a leader in consumer health. China’s 2015 decision to scrap the one child policy provides a huge opportunity for consumer goods companies, as last year’s 7.9% rise in the birth rate showed. Shares of Reckitt Benckiser closed the day 2.96% lower at the foot of the FTSE 100. Towards the top of the index sat miners as the oil price steadily ticked up throughout the day, currently sat 2.38% higher. London shares ended the day higher, the index closing the week 0.4% higher following a 4 day win streak.
Elementis has bought SummitReheis for $360m to help scale their personal care business. SummitReheis specialise in chemicals used by the deodorant makers. Shares closed the day 10.1% higher, topping the FTSE 250 index.
Chinese exports have rebounded in January as demand picked up home and away. In the midst of uncertainty as a result of Trump’s impending policies, the world’s largest trading economy has begun the year with a 7.9% rise in exports and 16.7% rise in imports.