The FTSE 100 traded 47.61 point lower at 10,441.44 as escalating conflict in the Middle East weighed on sentiment and AstraZeneca plunged after its experimental heart drug failed a late-stage trial. Meanwhile, Brent crude futures fell 1.23% to $76.06 a barrel while US West Texas Intermediate (WTI) declined 1.14% to $72.68 a barrel.
Sterling was quoted at $1.3406 early Thursday, higher than $1.3358 at the London equities’ close on Wednesday. Against the euro, sterling fell to €1.1721 from €1.1722 a day prior.
On the upside, Computacenter rose 10.88% to £4,586, while Antofagasta advanced 3.97% to £3,667. Glencore gained 3.72% to £508.90, and Anglo American rose 3.37% to £3,495. Standard Chartered added 2.65% to £2,090, while Endeavour Mining climbed 2.33% to £3,645.
On the downside, AstraZeneca declined 9.65% to £12,866, while Coca-Cola Europacific Partners slipped 1.25% to £7,890. British American Tobacco fell 1.97% to £4,520, and Unilever moved lower by 1.23% to £4,582.50. London Stock Exchange Group dropped 0.47% to £8,820, while Reckitt Benckiser eased 0.83% to £5,024.
Pharma heavyweight Astrazeneca has declined 8.4% to £13,043.48 in early trade, after its nerve disease drug Wainua failed to meet its major goal.
The drug was made in a partnership with US-based Ionis and Astra said this morning it failed to reduce cardiovascular deaths and recurring heart problems in a late-stage trial.
The trial found adding adding Waiuna to standard care for patients with a type of heart disease that let protein build-up in the heart disrupting blood pumping would not provide a significant benefit.
Brooks Macdonald has scrapped cash fees on discretionary portfolios, as the Financial Conduct Authority continues to crackdown on firms ‘double-dipping’ customers.
The firm stopped charging management fees on cash on 1 July amid evolving regulatory environment. It comes after the case of Rathbones, which admitted halting fees would cause a £9 million blow to profit before tax.
The company also reported a turnaround in net inflows in the financial year, hitting £226 million, a swing from outflows of £396 million the prior year.
Computacenter said it expects its adjusted profit before tax for the first half of 2026 to reach approximately double the £81.5 million recorded in the first half of 2025.
The company said its second quarter performance came in ahead of expectations. Computacenter added it anticipates full year 2026 results to be comfortably ahead of market expectations. The firm noted it remains mindful of a tougher comparative in the second half of the year.
Also Read: Stock Market Today: Nifty50 Crosses 24,000, Sensex Rises 447 Points
In the US, Dow Jones fell 1.1%, and S&P 500 declined 0.3%, but support for some AI stocks helped the Nasdaq to advance 0.2%.
In Asia on Thursday, Tokyo's Nikkei 225 rose 1.51% to 67,830.79, while China’s Shanghai Composite gained 1.1%. Hong Kong’s Hang Seng declined 0.69%, and Australia’s S&P/ASX 200 slipped 0.26%. In India, Nifty 50 and Sensex declined by 0.71% and 0.79%, respectively.
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