FTSE 100 hit another record high on Wednesday, high with pharmaceutical shares, despite concerns on US shutdown Astrazheneka 11%alone.
The FTSE 100 index closed its previous record on 96.00 points, 1.0%, Tuesday at 9,446.43.
The Blue Chip index had previously set a new best level of 9,457.91.
FTSE 250 was finished at 34.14 points, 0.2%, at 22,049.70, and AIM ended at 3.24 points, 0.4%, 786.41.
Astrazeneca led the FTSE 100 and increased by 11%, re -achieved its crown as the most valuable FTSE 100 stock from HSBC, while Hikma Hikma Pharmaceuticals and GSK increased by 5.7% and 6.2% respectively.
On Tuesday, the Trump administration announced a deal Fizer A three -year -old swear on tariffs employed as a pharmaceutical company in New York, vowed to voluntarily reduce the prices of unwarded drugs for US purchases.
Under the deal, the physician has to pricate the “most preferred nation” – the lowest price offered in other rich countries – MedicaidUS health insurance program for low -income Americans.
white House It also said that it would unveil a website – called TrumpRX – which will allow consumers to buy some medicines from manufacturers at direct discounted rates.
The JP Morgan Fizer’s agreement is seen as a potential “bellweather for the sector”, which “we guess that the European Union pharma can be repeated by companies and therefore the most favorable nation drug pricing,” confident investors “must result in widely manageable effects.
In economic figures, the recession in UK manufacturing deteriorated in September as output, order and employment, all fell at high rates, shown results of survey of S&P Global.
The index of seasonally adjusted manufacturing purchasing managers fell from 47.0 to 46.2 points in September, marking its lowest level since April and remaining below the neutral 50-bindu mark for the 12th straight month.
The final figure came in accordance with the flash estimate published last Tuesday.
Production was contracted for the 11th consecutive month, with a decline in consumer, intermediate and investment goods. The new orders fell for the 12th month, one of the most drops in two years, because the firms cited the customer’s confidence, the uncertainty related to the US tariff, and high energy and labor costs.
Elliott Jordan-Dok, senior economist at Panthaian Macroeconomics, said the demand for UK’s manufacturing export is surrounded by uncertainty related to tariffs, although he feels the worst of the tariff-related blow has passed.
He only expects manufacturing production to grow gradually during the second half of the year.
The pound at the time of London Equity Market Close was quoted at US $ 1.3477 on Wednesday compared to $ 1.3443 on Tuesday. The euro stood at $ 1.1729, slightly against $ 1.1727. Against Yen, the dollar was trading at 147.15 yen, lower than 147.98 yen.
The yield on the US 10-year-old Treasury increased from 4.12% to 4.13% on Tuesday. The yield on the US 30-year-old Treasury was 4.72%, wide by 4.69%.
In European equity on Wednesday, CAC 40 0.9%in Paris was closed, while Dax 40 in Frankfurt made 1.0%.
in stock New york The time close to London had changed slightly. Dow Jones Industrial Average was 0.1%, S&P 500 index was flat and Nasdaq Composite was 0.1% less.
The US government entered a shutdown at midnight, as the Congress failed to make a deal to keep the programs funded.
Rostro analyst Joshua Mahoni said that with very little signal of progress towards a deal, traders are preparing for the possibility that both unemployed claims and Friday’s non-agricultural payroll release will be delayed.
He said that, historically, Shutdown has distributed the matches of instability, but the example is that the weakness becomes short -lived and offers “opportunities to buy”.
He said, “Markets may face disturbance in the coming days, although historical evidence pointed to the decline of shutdown, providing opportunities for bulls that can take advantage of short -term dislocation,” he commented.
CITI analyst Andrew Hollenhorst stated that the economic pulling should be limited from the shutdown, but if the shutdown lasts for more than two weeks or if a large number of federal workers are permanently closed, it will become more important.
He said, “The resolution of the earlier is possible, but if this shutdown lasts for several weeks, we will not be surprised.”
With the report of American jobs under the danger of delay, ADP data took additional importance.
According to the parole service provider, the US private sector shed 32,000 jobs in September, a result that decreased from FXSTITT, cited the expectation of 50,000 additions. In August, 3,000 jobs were lost, a large -scale modified in a reading, which increased by parole by 54,000.
Morgan Stanley stated that the negative print “keeps the Federal Reserve on alert”, and has predicted a continuous cut in the point rate of the quarter through a meeting of the January Federal Open Market Committee.
Back in London, JD Sports Fashion increased by 6.8% after its retail partner, Nike better than Nike.
Nike increased by 5.4% in New York. Its products account for about 45% of the sales of JD and their fate is closely connected.
On the negative side, Tesco was a weak feature, which was 3.6%below, ahead of the results of half year on Thursday.
At FTSE 250, Gregs climbed 6.4% after a reassured trade statement.
Bakery Chen said that trading hurt sales in August and September after “unusually” hot July.
But analysts stated that the leap of the share price reflected the absence of another benefit, and a small squeeze, instead of renewed enthusiasm for the company.
Peel Hunt said: “There will be relief from the market that the update did not decline, but the pressure is still under forecasts.
“Large issues such as evening trade feasibility, long-term stores ambition, and the image of value-K-wealth are still open. We think to prove a lot in our view.”
But Tate and Lile recorded a 12% decline after a cut in sales and earning guidance.
Chief Executive Nick Hampton said the group has “seen a slowdown in the demand for the market, especially in the last two months, which has slowed down our recent performance.”
Tate and Lyl now hopes that full-year sales will be reduced by a low-foot digit percentage, compared to earlier hopes for growth, or slightly below, the firm’s medium-term range is below 4% to 6%.
Brent Oil fell late by $ 65.99 late on Tuesday to a barrel of US $ 65.53 on Wednesday.
But gold remained in demand, traded at $ 3,862.37 an ounce on Wednesday, against $ 3,836.50 on Tuesday.
FTSE was the largest raiser at 100: Astrazheneka, 1,254 Pence at 12,436 P; JD Sports Fashion, 6.5p on 101.8p; GSK, 97p on 1,671.5p; Hikma pharmaceuticals, up to 97p at 1,795p; And 22 p at Melroz Industries, 630p.
The biggest collapse at FTSE 100 was: Babok International, 50p below at 1,280p; Tesco, 15.8p below 429.7p; Coca-Cola HBC, 110p below at 3,394p; Sports workshop, 330p down at 14,200p; And the royal brand, 67p down at 3,091p.
The global economic calendar of Thursday has eurozone unemployment data, and the US Weekly unemployed claim figures and factory figures.
The UK’s largest retailer in Thursday’s UK corporate calendar is half -year results from Tesco.
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