FTSE 100 slips as pharma stocks weigh
FTSE 100 down 0.1%, FTSE 250 down 0.2%
Updated at 1700 GMT
Nov 15 (Reuters) -The main UK stock indexes slipped on Friday, with losses in AstraZeneca and GSK weighing on the blue-chip FTSE 100, while data showed Britain's economy contracted unexpectedly in September.
Shares of drugmakers AstraZeneca AZN.L dropped 3.1% and GSK GSK.L dipped 3.9%, tracking losses in U.S. and European vaccine makers after U.S. President-elect Donald Trump said he had selected Robert F. Kennedy Jr., who has previously spread misinformation on vaccines, to lead the Department of Health and Human Services.
The FTSE 100 .FTSE closed down 0.1% and clocked its fourth consecutive week of declines.
The midcap FTSE 250 index .FTMC dipped 0.2%.
Britain's economy contracted unexpectedly in September and growth slowed to a crawl over the third quarter, data showed, an early setback for finance minister Rachel Reeves' ambitions to kick-start a sustained pickup.
GDP slipped by 0.1% in monthly terms during September, while economists had forecast an expansion of 0.2%.
"The latest UK GDP figures offered evidence of the chilling effect of a Budget build-up filled with warnings about hard decisions," said Russ Mould, investment director at AJ Bell.
On Thursday, Reeves promised a reboot of regulation governing Britain's "crown jewel" financial industry, which she said had stifled economic growth.
Land Securities LAND.L climbed 4.3% after the commercial property firm forecast annual earnings above market expectations.
TT Electronics TTG.L soared 40% after Volex Plc VLX.L said the British electronic components maker had declined to engage with it and rejected two takeover offers it had submitted.
Volex, the maker of power products and data connectivity cable, fell about 11%.
Reporting by Sruthi Shankar in Bengaluru; Editing by Tasim Zahid, Editing by William Maclean
For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L * For related news, click on - * UK hot stocks: HOT and GB Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/ * For company prices, click on - * Company directory: UKEQ By sector: FTAX * For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
