FTSE 100 dips as AstraZeneca slides on Bristol Myers tie-up talks
AZN•FTSE 100 ends lower as AstraZeneca falls
The UK's FTSE 100 edged lower on Monday, as a fall in AstraZeneca shares after reports of a potential tie-up with U.S. drugmaker Bristol Myers Squibb overshadowed improving sentiment from lower oil prices.
The blue-chip FTSE 100 index .FTSE ended down 0.1% to 10,857.7 points, dropping for the third straight day. The mid-cap FTSE 250 .FTMC rose nearly 1% to 24,224.77 points.
Oil prices, housebuilders and Clarkson move higher
- The broader British stock market and global stocks took some comfort from a sharp fall in oil prices after U.S. President Donald Trump said he held off a fresh attack on Iran as he sought a quick deal to reopen the Strait of Hormuz.
O/R - Rate-sensitive housebuilding stocks climbed as UK bond yields fell on the back of the retreat in oil prices. Vistry Group
VTYV.Ljumped nearly 8%, while BellwayBWY.Land PersimmonPSN.Lclimbed 2.8% and 2.1%, respectively. - British manufacturing activity expanded for a ninth straight month in July but at the slowest pace in four months, according to S&P Global purchasing managers' data that pointed to a renewed impact from the Iran war towards the end of last month.
- Among other movers, UK shipping services firm Clarkson
CKN.Lrose 8.9%, leading gains across all London-listed stocks, after issuing an upbeat full-year outlook.
