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UK stocks opened higher on Monday after China lowered a key borrowing rate to stimulate its slowing economy.
At 0825, the benchmark FTSE 100 index was up 50.2 points, or 0.7%, at 7,593.15, with investors also bracing for UK inflation data due Wednesday.
GlaxoSmithKline jumped 5.8% to £17.3544 after it confirmed it had rejected a £50 billion bid by Unilever for its consumer health arm.
Unilever, meanwhile, slumped 6.2% to £36.92 and said it was overhauling its strategy to concentrate more on health, beauty, and hygiene, with growth potentially funded by asset sales.
GlaxoSmithKline confirmed that it had received three proposals from Unilever that 'fundamentally undervalued' the consumer health division, owned in a joint venture with Pfizer.
House builder Taylor Wimpey climbed 2.0% to 157.04p on announcing that it may launch a share buyback after a 47% jump in home completions put it on track to meet its annual profit guidance.
Taylor Wimpey said it would reveal more about capital returns at its full-year results briefing on 3 March, with a buyback its 'current intention'.
Emerging markets focused Ashmore slipped 2.6% to 281.8p, having reported a fall in assets under management as investors moved out of debt investments in the second quarter.
Ashmore's assets under management declined by $4.0 billion in the three months through December, comprising net outflows of $2.2 billion and negative investment performance of $1.8 billion.
Defence technology company QinetiQ firmed 1.5% to 273.13p following news that had appointed Shawn Purvis as the head of its US business.
Purvis was currently a corporate vice president at Northrop Grumman business, where she led its enterprise services sector, responsible for global cyber security, operations and next generation digitisation.
Pharmaceutical titan AstraZeneca firmed 1.4% to £86.67 after it and partner Daiichi Sankyo's license application for a breast cancer drug was accepted and granted priority review in the US.
Generic drup company Hikma Pharmaceuticals added 1.2% to £20.77 as it agreed to acquire the Canadian assets of Teligent for $45.8 million.
The acquisition marked Hikma's expansion into Canada and included a portfolio of 25 sterile injectable products, three in-licenced ophthalmic products and a pipeline of seven additional products.
Gene and cell therapy company Oxford Biomedica fell 1.7% to 998.45p on announcing that chief executive John Dawson had signalled his intention to retire, having been at the helm for more than 13 years.
Oxford Biomedica said it had initiated a formal search for a successor. Dawson he would retire 'at the appropriate time'.