FTSE 100 movers: Pharma stocks take a hit; Land Securities rallies
London’s FTSE 100 was down 0.1% at 8,062.10 in afternoon trade on Friday.
Land Securities gained after saying it returned to profit in the six months to 30 September as the property market continued to recover, underpinned by growing demand.
Pre-tax profit came in at £243m, compared with a loss of £193m a year earlier. The company also lifted guidance for EPRA full-year earnings.
Pharma stocks were under the cosh, with GSK and AstraZeneca among the worst performers after US President-elect Donald Trump selected Robert F. Kennedy Jr to lead the Department of Health and Human Services.
Russ Mould, investment director at AJ Bell, said: "The announcement of vaccine-sceptic Robert F. Kennedy Junior as health secretary pick for the incoming Trump administration has spooked investors in the sector, with US drug companies also seeing their shares come under significant pressure overnight.
"The impact on the sector is hard to judge fully at this stage but, at the very least, it will cause a good deal of uncertainty."
FTSE 100 - Risers
Land Securities Group (LAND) 602.00p 3.79%
easyJet (EZJ) 532.00p 2.82%
Anglo American (AAL) 2,305.50p 2.74%
Prudential (PRU) 645.00p 2.32%
Lloyds Banking Group (LLOY) 56.24p 2.18%
Fresnillo (FRES) 642.00p 2.07%
Aviva (AV.) 484.90p 2.00%
Glencore (GLEN) 382.00p 1.95%
Rio Tinto (RIO) 4,827.50p 1.94%
Smith (DS) (SMDS) 568.00p 1.88%
FTSE 100 - Fallers
GSK (GSK) 1,286.50p -4.95%
Relx plc (REL) 3,519.00p -3.30%
AstraZeneca (AZN) 9,975.00p -3.08%
Croda International (CRDA) 3,509.00p -2.77%
B&M European Value Retail S.A. (DI) (BME) 390.00p -2.21%
Vistry Group (VTY) 699.00p -2.17%
Intertek Group (ITRK) 4,408.00p -1.87%
Melrose Industries (MRO) 493.30p -1.85%
Associated British Foods (ABF) 2,202.00p -1.83%
Experian (EXPN) 3,595.00p -1.70%