GSK Leads Gains Amid Dividend Drags: UK Stocks Steady

UK stocks saw mixed performances as dividend exclusions weighed on some major companies, while GSK shares surged post-lawsuit settlements in the US. The FTSE 100 dipped slightly, driven by declines in Tesco and others. Meanwhile, gold miners benefited from rising prices, and the UK's housing market showed signs of recovery.

The main stock indexes in the UK experienced a dip on Thursday, influenced by select companies trading without the rights to dividend pay-outs. GSK, however, bucked the trend with its shares jumping after settling lawsuits in the US.

The FTSE 100 index saw a minor decline of 0.1%, while the mid-cap FTSE 250 recorded a larger fall of 0.6%. Companies like Tesco and WPP contributed to the downward pressure by dropping between 1.4% and 5% due to trading without upcoming dividend entitlements.

The household goods and home construction sector sustained its downturn, marking a fourth consecutive session of losses, while GSK's legal resolution boosted its shares by 2.3%, elevating the pharma and biotech index by 0.8%. Meanwhile, precious metal miners gained amidst rising gold prices, while the UK housing market showed improvement despite challenges in the rental sector.

(With inputs from agencies.)