FX.co ★ FTSE 100 Falls Led by AstraZeneca

The FTSE 100 experienced a decline on Monday, lagging behind its European counterparts, with significant losses seen in the pharmaceutical and biotech sectors. Prominent company AstraZeneca saw a 3.4% drop after halting a planned £200 million investment in its research facility in Cambridge. GlaxoSmithKline also decreased by over 1.5%. BT saw a decline of more than 2% subsequent to appointing two board members from major investor Bharti Global, despite a 45% increase since the previous year. Conversely, Sainsbury’s climbed by more than 3.5%, reaching a four-year peak, upon announcing the termination of discussions to sell Argos to JD.com, due to unfavorable terms. Analysts noted that the retailer remains amenable to a sale, which could shift focus back to its robust food division and possibly attract new buyers. Investors are now turning their attention to the forthcoming central bank meetings in the US and UK, as well as the UK's inflation data expected on Wednesday, which is anticipated to remain steady at 3.8% year-on-year, marking an 18-month high.