StockMarketWire.com - Two of the biggest UK-listed pharmaceutical companies weighed on the FTSE 100 following AstraZeneca's (AZN) failed MYSTIC clinical trial.

The pharma giant said that using immuno-therapy drugs durvalumab and tremelimumab failed to help patients in the advanced stages of lung cancer.

Shares in AstraZeneca (AZN) crashed 15.4% to £43.25 while GlaxoSmithKline (GSK) shed 0.9% to £15.31.

The FTSE 100 slipped 0.1% lower to 7,443 despite a raft of other corporate news.

Another noticeable faller was Lloyds (LLOY). The bank reported a strong first half performance as underlying profit rose by 8% to £4.5bn. The return of PPI provisions put pressure on the share price, which fell 2.2% to 67.5p.

Brent crude oil increased 0.7% to $51.33 per barrel. Gold was unmoved at $1,249 per ounce while copper advanced 0.4% to $6,349 per tonne.

OVERSEAS MARKETS

Facebook revealed a strong set of results and rallied 5.2%, while online retailer Amazon was up 1.9% ahead of its latest results later today.

The tech-focused Nasdaq index led the US stock markets higher and gained 0.5% to 6,458.

FTSE 100 RISERS AND FALLERS

Smith & Nephew (SN.) reported a jump in operating profit to $414m in the second quarter and first half of 2017. Shares in the med tech firm increased 3.3% to £13.44.

Cigarette seller British American Tobacco (BATS) was flat at £53.22 on higher profits thanks to the weaker pound, although the company flagged declining volumes as people smoked less.

Investors raised a glass to Diageo (DGE) after it reported a 25% jump in operating profit to £3.6bn for the year to 30 June. The stock rallied 6% on the news.

Pest control Rentokil (RTO) advanced 5.4% to 289.6p thanks to a 12.5% rise in pre-tax profit in the first half of 2017.

Shares in broadcaster Sky (SKY) were flat at 966p despite operating profit declining by £97m after the company absorbed £629m of costs relating to Premier League rights and invested in new businesses.

Miner Anglo American (AAL) resumed dividends after net debt was reduced to $6.2bn. The news was welcomed by investors as the stock was up 3.2% to £12.33.

Oil giant Royal Dutch Shell (RDSB) failed to impress with in-line half year results, leaving the shares broadly unmoved at £21.10.

FTSE 250 RISERS AND FALLERS

Trading was strong at Mitchell & Butlers (MAB) as like-for-like sales grew 2.6% in the ten weeks to 22 July, helping the stock soar 20.8% to 270p.

Indivior (INDV) raised its full year sales guidance from between $1,050m and $10,080m to $1,090m to $1,120m. The news excited the market as the stock was marked 17.6% up to 372.8p.

Just Eat (JE.) slid 4.7% to 676.7p despite upgrading full year revenue guidance following a 38% rise in its revenue for the six months to 30 June.

Tour operator Thomas Cook (TCG) was optimistic that strong demand for the summer holidays was likely to lift its performance over winter, prompting a 4.4% rise to 107.7p.

Bookie Ladbrokes Coral (LCL) revealed a decent trading update, helping the share price tick 5.6% higher to 125.7p.

SMALL CAP RISERS AND FALLERS

Estate agent Foxtons (FOXT) blamed slowing demand and higher political uncertainty for nearly a 64% drop in first half profit, which hit the share price by 3.9% to 92.2p.

Remaining in the sector, property services group Countrywide (CWD) also struggled. The company said the first half of 2017 faced tough comparatives with 2016 due to stamp duty changes and the EU referendum. Shares in the firm fell 9.9% to 148p.


Story provided by StockMarketWire.com