UK Market Stirred Amid Election Uncertainty and AstraZeneca Woes

The FTSE 100 index fell slightly on Tuesday as a potential China probe negatively impacted AstraZeneca. Concurrently, U.S. Election Day kept investors cautious. Shares of Melrose Industries rose, while Schroders dropped due to outflows. The outcome of the U.S. presidential election remains uncertain, influencing investor sentiment.

The London Stock Exchange saw mixed outcomes on Tuesday, with the FTSE 100 dipping 0.1% to close at 8,172.39 points. AstraZeneca faced a significant tumble, declining by 8.4% after reports of a major insurance fraud probe potentially involving senior staff in its China operations.

Meanwhile, Melrose Industries' shares performed strongly, jumping 5.1% following positive forecasts from Citi regarding its cash flow. In contrast, Schroders fell to the bottom of the index with a 14% decrease, affected by unexpected fund outflows during the third quarter.

As American voters headed to the polls in a crucial presidential election, UK investors remained wary, anticipating implications for markets. The Bank of England's upcoming meeting with possible rate changes also garnered attention. The current economic landscape demonstrates the intertwined nature of political events and market stability.

(With inputs from agencies.)