In London, the FTSE 100 edged closer to its record highs, lifted by renewed interest in drugmakers implementing fresh strategic shifts. One heavyweight saw double-digit moves intraday after a trial result from a rival threw doubts across an entire therapeutic area. Meanwhile, in the UK, GSK’s share price leapt on news of a CEO transition and AstraZeneca also found fresh wind via plans to align its global listings and encouraging clinical updates.
The broader FTSE 100 also gained about 0.5 %, part of a wider European advance, as investors began to look past near-term macro headwinds and started repositioning ahead of key data. Mmarkets are now gearing toward the coming US employment report as a likely tiebreaker in policy expectations. Estimates currently point to moderate payroll additions and a 4.3 % unemployment print, outcomes that could validate or derail the market’s pricing of imminent Fed easing.
Safe havens like gold also found fresh legs. The metal pierced new records, drawing in inflows as investors both hedge and hunt for upside. The weaker dollar tone adds fuel, making gold more compelling in relative terms. Meanwhile, energy stocks underperformed on the back of lighter oil prices, which themselves reflect weakening demand expectations and renewed supply signals.
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