29.04.202608:14:06UTC+00FTSE 100 Falls as Pharma Stocks Drag

The FTSE 100 fell more than 0.5% on Wednesday, slipping to a four-week low and lagging other major European indices as heavyweight pharmaceutical stocks weighed on the market. AstraZeneca lost over 1% and GSK nearly 3%, despite both posting slightly better-than-expected results, underscoring the pressure on two of the index’s largest constituents.

Lloyds Banking Group eased around 0.8% even after delivering stronger-than-forecast first-quarter profit and upgrading its full-year outlook. Haleon declined about 2% after reiterating guidance but warning of softer US sales, citing a mild cold and flu season.

Oil prices edged higher, adding to the cautious tone across markets, while investors’ focus shifted to upcoming earnings from major US tech groups, including Alphabet, Microsoft, Amazon and Meta. At the same time, reports that President Donald Trump is preparing for a prolonged naval blockade in the Strait of Hormuz have heightened concerns over a further escalation in geopolitical tensions.