Drugs put FTSE in a spin

AstraZeneca tumbled 8.16% to £28.80 on news it has stopped the development of its experimental stroke drug NXY-059, as it failed to reduce significant disability in patients. GlaxoSmithKline slipped 3.97% to £14.51 despite raising earnings guidance for the year to mid-teens EPS growth from 12% previously, hiking its dividend and increasing its share buyback programme. British American Tobacco also fell 1.55% to £14.59, despite lifting nine month earnings by 13% to 75p, adding it is on track for a good year. Life insurer Aviva dropped 1.89% to £7.77 after it reported it had boosted nin...