London’s benchmark FTSE 100 index fell on Thursday as renewed tensions in the Middle East unsettled investors, while disappointing clinical trial results sent AstraZeneca shares sharply lower.
By 10:45 GMT, the blue-chip FTSE 100 had declined 0.6% to 10,417.63 points, while the mid-cap FTSE 250 edged up 0.1%, supported by gains in several domestic stocks.
Investor sentiment remained cautious following fresh US strikes on Iran, which renewed concerns about regional instability. However, worries over a broader conflict eased after US President Donald Trump said he did not expect the situation to escalate into a full-scale war. Despite higher oil prices, energy stocks fell 1%.
Pharmaceutical stocks recorded the steepest losses, dropping 6.2%, with AstraZeneca leading the decline. The drugmaker’s shares plunged 9.2% after its experimental nerve disease treatment, Wainua, developed in partnership with US-based Ionis Pharmaceuticals, failed to meet its primary goal in a late-stage trial aimed at reducing cardiovascular deaths and recurring heart complications.
Meanwhile, precious metal miners rose 2.6% as a weaker US dollar lifted gold prices, increasing demand for bullion. Investors also continued to watch developments in the Middle East for clues on the outlook for inflation and interest rates.
On the FTSE 250, Playtech jumped 17.7% after the gaming technology company forecast 2026 adjusted core earnings above market expectations, driven by strong growth in the United States and Latin America.
Computacenter also advanced more than 7% after the IT services provider said it expects annual earnings to exceed market forecasts, supported by robust demand for artificial intelligence infrastructure from hyperscale customers in North America and the United Kingdom.
Goodness Anunobi
