Market Woes: UK Stocks and Economic Contraction

The UK stock market experienced declines with significant impacts from AstraZeneca and GSK, contributing to the FTSE 100's ongoing slide. The UK's economy contracted in September, unsettling finance minister Rachel Reeves' economic plans. Land Securities and TT Electronics saw contrasting fortunes amid these developments.

The UK's primary stock indexes saw declines on Friday, largely due to AstraZeneca and GSK's performance, which weighed heavily on the FTSE 100. This downturn was compounded by unexpected data revealing a contraction in the UK economy for September.

AstraZeneca's and GSK's stocks fell by 3.1% and 3.9% respectively, amidst broader losses for vaccine makers after political developments in the U.S. The FTSE 100 dropped 0.1%, marking its fourth consecutive week of decline.

The FTSE 250 index also fell by 0.2%. The economic contraction in September, contrary to expectations of growth, poses an early challenge for finance minister Rachel Reeves' economic revitalization plans. Meanwhile, Land Securities and TT Electronics experienced notable stock movement, reflecting varied investor responses.

(With inputs from agencies.)