FTSE 100 movers: Pharma, telecoms stocks weigh on blue-chip index
By Benjamin Chiou
Date: Wednesday 07 May 2025
(Sharecast News) - London's FTSE 100 was set to finish lower on Wednesday for the first time in four weeks, with heavyweight names in the pharmaceutical and telecoms sectors providing a drag.
Shares in GSK and AstraZeneca came under pressure after vaccine-sceptic Vinay Prasad was appointed to a key role at the US Food and Drug Administration. GSK was down 4.2% while AstraZeneca fell 1.8%
Prasad, an oncologist who has been vocal in his criticism of the FDA's leadership as well as Covid-19 mandates, will oversee the regulation of costly biologic drugs, including vaccines, gene therapies and blood supply, and is widely expected to tighten up vaccine approvals, likely leading to much longer approval timelines for new drugs.
Vodafone was trading 2% lower after revealing that its finance chief announced his decision to step down to join another company. Luke Mucic was to leave the telecoms operator no later than "early 2026" to join German real estate firm Vonovia. Sector peer BT was also among the worst performers.
In contrast, Entain continued its recent march higher to top the risers list with a gain of 2%. The stock has surged by 40% over the past month, helped by last week's appointment of interim boss Stella David as its permanent CEO and the announcement of a stronger-than-expected first-quarter performance.
Marks & Spencer was attempting to rebound, up 1% after hitting a one-month low the previous session as operations continued to be impacted by last month's cyberattack. While the retailer still has a pause on taking orders via the M&S.com website, apps and over the phone, the shares have tanked more than 12% over the past three weeks.
Defence blue chip BAE Systems fell 2.3% despite reaffirming its full-year 2025 guidance following a steady first quarter as it highlighted strong operational performance and a robust order backlog.
FTSE 100 - Risers
Entain (ENT) 702.40p 2.12%
Prudential (PRU) 830.40p 1.89%
Smurfit Westrock (DI) (SWR) 2,995.00p 1.42%
Imperial Brands (IMB) 3,165.00p 1.41%
Marks & Spencer Group (MKS) 363.80p 1.00%
International Consolidated Airlines Group SA (CDI) (IAG) 284.40p 0.99%
Ashtead Group (AHT) 4,069.00p 0.97%
Hiscox Limited (DI) (HSX) 1,149.00p 0.97%
Lloyds Banking Group (LLOY) 72.30p 0.95%
InterContinental Hotels Group (IHG) 8,506.00p 0.90%
FTSE 100 - Fallers
GSK (GSK) 1,389.00p -4.21%
Rentokil Initial (RTO) 353.00p -2.35%
SEGRO (SGRO) 672.40p -2.32%
BAE Systems (BA.) 1,730.00p -2.29%
BT Group (BT.A) 165.70p -2.18%
Vodafone Group (VOD) 71.52p -2.00%
Antofagasta (ANTO) 1,686.00p -1.86%
AstraZeneca (AZN) 10,510.00p -1.78%
3i Group (III) 4,225.00p -1.70%
LondonMetric Property (LMP) 193.10p -1.63%
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