FTSE 100 Trades at Record Thanks to Pharma Stocks

2025-10-01 08:03 By Agna Gabriel 1 min. read

The FTSE 100 traded 0.4% higher at a record 9,390 on Wednesday, outperforming European peers as pharma and energy stocks led gains.

AstraZeneca and Hikma jumped over 4.5% while GSK rose 1.5% after Pfizer announce a deal with the Trump administration to lower drugs prices securing a reprieve from US tariffs.

Pfizer agreed to slash drug prices by up to 85% and sell directly to American consumers.

Analysts welcomed the move as bringing clarity on tariffs and pricing, with hopes peers may follow.

Also, oil majors Shell and BP traded 0.8% higher.

JD Sports added 0.5% after Nike reported a smaller-than-expected 1% sales decline, driven by improvements in wholesale and running shoes.

However, broader sentiment was dampened by the first US government shutdown in nearly seven years after Congress failed to pass a funding bill, raising uncertainty ahead of the 2026 midterms.



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