FTSE 100 Decline Led by Pharma Shares

Britain's FTSE 100 fell by 0.3%, driven by a decline in pharma shares and ex-dividend trading. AstraZeneca's 3.9% drop, due to legal issues in China, contributed significantly. Primark owner AB Foods also saw a significant fall. Conversely, the homebuilders index rose following Vistry's share buyback announcement.

Britain's benchmark FTSE 100 stock index ended lower on Thursday, weighed by a substantial decline in pharmaceutical shares. Several stocks traded ex-dividend, further contributing to the losses.

The blue-chip index closed down 0.3%, marking its fifth consecutive session of decline, a trend not observed since May. The FTSE 250, more focused on domestic mid-cap companies, dipped 0.2%, touching a near one-month low.

The sharpest sector fall was in pharma and biotech, plunging 2.9%, with AstraZeneca dropping 3.9%. Bloomberg News reported that Chinese police have detained five current and former AstraZeneca employees on allegations of illegal activities.

AB Foods, which owns Primark, was the largest loser on the FTSE 100, dropping 8.5% after forecasting a 0.5% decline in Primark's like-for-like sales for the latter half of the year, citing poor weather in Britain and Ireland. Insurers Prudential and Admiral, paper and packaging firm DS Smith, and chemicals company Croda fell between 1.6% and 3.3% due to trading ex-dividend.

In contrast, the homebuilders index was the top sector performer, climbing 2.6% following Vistry's announcement of a 130 million pound ($171 million) share buyback. Vistry's shares surged 8.5%, topping the FTSE 100. Among mid-caps, Alfa Financial Software soared 10.3% after revising its full-year revenue expectations up by 1 million pounds.

Online retailer ASOS saw an 18.1% jump, fueled by forecasts of adjusted core profit at the high end of market expectations. However, data indicated a slowdown in Britain's construction industry growth in August, despite a near two-year peak in homebuilding, highlighting slowing inflation pressures.

A separate survey revealed that British companies are expected to increase selling prices at the lowest rate in nearly three years, although wage growth remains steady.

(With inputs from agencies.)