Drug stocks send FTSE lower

clock

The FTSE 100 has ended the day slightly down with a drop of 7.1 points, or 0.11%, to 6,479.7, as the market reacted badly to bid news.

AstraZeneca was the biggest loser with a fall of 4.1% to £28.32, as it announced it has agreed to buy US biotech firm MedImmune for $15.2bn, while Barclays slipped 2.27% to 733p, following confirmation of its €67bn offer for Dutch rival ABN Amro. Marks & Spencer Group also fell 1.53% to 709p, closely followed by ICAP which slipped 1.3% to 511p, while GlaxoSmithKline dropped 1.48% to £14.66, although losses were limited by Royal Dutch Shell which added 1.36% to £17.89. Brewer Scottish & Newcastle posted the biggest gains with a rise of 2.8% to 587.5p, closely followed by Hanson which a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

Think tank urges chancellor to avoid 'limping from one forecast to the next'

Linus Uhlig
clock 16 October 2025 • 2 min read
Why higher bond yields aren't causing a Mini-Budget meltdown

Why higher bond yields aren't causing a Mini-Budget meltdown

'One thing we know about Rachel Reeves is she will live or die by her fiscal rules'

Laith Khalaf
clock 07 October 2025 • 5 min read
City 'has lost sympathy with this Labour government' - George Osborne

City 'has lost sympathy with this Labour government' - George Osborne

Former chancellor defends the OBR

Michael Nelson
clock 01 October 2025 • 3 min read