Drug stocks send FTSE lower

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...