FTSE 100 Outperforms Led by AstraZeneca
The FTSE 100 was little changed on Friday, outperforming other European markets as strong results from AstraZeneca and BP offset losses in banking and mining stocks. AstraZeneca gained around 7% after reporting better-than-expected third-quarter core operating profit and earnings per share. The company also reaffirmed its guidance. GSK rose approximately 2%. BP advanced more than 0.5% after posting profits of $8.46 billion, comfortably above expectations, on strong refining margins; Shell also closed slightly higher. Consumer stocks Unilever and BAT gained 2.2% and 1.7%, respectively. In contrast, NatWest plunged 9% after its results failed to prompt an upgrade to guidance, while Lloyds Banking Group and Barclays fell 5% and 3.8%. Mining stocks also weakened amid lower metal prices, with Endeavour and Fresnillo losing more than 5%. Antofagasta fell 4.6% and Anglo American 3.5%. The index gained 0.4% over the week and rose 12% in October.
The FTSE 100 was little changed on Friday, outperforming other European markets as strong results from AstraZeneca and BP offset losses in banking and mining stocks. AstraZeneca gained around 7% after reporting better-than-expected third-quarter core operating profit and earnings per share. The company also reaffirmed its guidance. GSK rose approximately 2%.
BP advanced more than 0.5% after posting profits of $8.46 billion, comfortably above expectations, on strong refining margins; Shell also closed slightly higher. Consumer stocks Unilever and BAT gained 2.2% and 1.7%, respectively. In contrast, NatWest plunged 9% after its results failed to prompt an upgrade to guidance, while Lloyds Banking Group and Barclays fell 5% and 3.8%. Mining stocks also weakened amid lower metal prices, with Endeavour and Fresnillo losing more than 5%.
Antofagasta fell 4.6% and Anglo American 3.5%. The index gained 0.4% over the week and rose 12% in October.