FTSE 100 Slips To 4-week Low

(RTTNews) - The London Stock Exchange's benchmark index FTSE 100 fell to a four-week low on Wednesday, weighed down by notable losses in top pharma stocks. The mood in the market remained cautious amid persisting concerns about a lack of progress in Iran peace talks.

Investors also awaited monetary policy announcements from the Federal Reserve (due later today), and the European Central Bank and Bank of England, tomorrow.

The FTSE 100 was down 87.75 points or 0.84% at 10,245.04 a few minutes past noon.

St. James's Place, Next and Haleon lost 4%, 3.4% and 3.2%, respectively. Burberry Group, Melrose Industries, Howden Joinery Group, Persimmon, BAE Systems, Land Securities, Rolls-Royce Holdings, 3i Group, The Sate Group, Airtel Africa and Metlen Energy & Metals shed 1.5%-3%.

GSK dropped by about 4% despite delivering strong Q1 performance and affirming its 2026 guidance. The company's core operating profit for the quarter ending March 31 climbed 10% on a constant currency basis to £2.65 billion, but the stock fell due to the fact that a significant part of the jump was due to egal settlement provisions rather than operational performance.

AstraZeneca drifted down 1.5% despite posting better-than-expected first-quarter earnings.

Lloyds Banking Group slid by about 1% after it warned of the impact from the Iran war on the global economy.

Haleon drifted down 2%. The company announced that it recorded revenue of GBP 2.857 billion, higher than GBP 2.853 billion in the same period last year. Revenue from Europe, the Middle East & Africa, and Latin America stood at GBP 1.240 billion as against GBP 1.188 billion in the previous year.

DCC soared 12%. Glencore, Mondi, Croda International, Polar Capital Technology Trust, Anglo American Plc, Scottish Mortgage and Lion Finance also posted notable gains.