London’s FTSE 100 fell for a third straight day on Thursday, with GSK down after the US public health agency scaled back the drugmaker’s rheumatic fever virus (RSV) vaccine, while investors awaited key economic data from the US and UK.
The benchmark FTSE 100 index was down 0.6% at 8,179.68 points.
The pharmaceutical sector was hurt by GSK’s 4.6% fall after the US CDC on Wednesday reduced its recommendation to use respiratory syncytial virus vaccines in older adults this year and stopped short of recommending their use in adults under 60 years of age.
Investors were also on edge ahead of U.S. personal consumption expenditure (PCE) figures due Friday, which could influence the Federal Reserve’s stance on interest rate cuts this year.
In addition, UK gross domestic product (GDP) figures could support the Bank of England’s decision to cut rates in August.
The benchmark FTSE 100 index fell 3.5% from its record high reached in mid-May, ahead of the UK’s July 4 general election.
The automotive and parts sector fell 1.4% after industry data showed UK car production fell 11.9% year-on-year in May, down for the third consecutive month.
Accessories retailer Burberry fell 6.4% after the company missed its latest dividend payment.
DS Smith jumped 15.7 as Suzano ended its negotiations to acquire International Paper. The British paper and packaging company agreed to be acquired by International Paper for $7.2 billion in April.
The nationally oriented FTSE 250 index rose 0.2%.
Leading the gains in the mid-cap index, Moonpig Group climbed 15.2% after the online greeting card company reported its full-year results. (Reporting by Purvi Agarwal and Medha Singh in Bengaluru; Writing by Sohini Goswami and Andrew Heavens)
