Hikma shares surge 7.6% with trading volume up, buyback talk grows
Hikma Pharmaceuticals Plc jumped 7.58% to finish at 1,661 pence on Tuesday. That move topped the FTSE 100 Index, which added just 0.13% to end at 10,665.88. Even with the gain, Hikma shares closed 19.05% under the 52-week high of £20.52. Volume and buyback figures stood out. About 1.7 million shares changed hands, more than double the 50-day average of 795,791. With Hikma’s latest voting share count at 212.146 million post-cancellation, the 117p jump in a day works out to about £248 million in equity value. That’s nearly 1.9 times the £131.96 million spent on buybacks since Feb. 26.