Overview

• The FTSE 100 rose 96 points, or 1.0%, to close at 9,446.43 after setting an intraday high of 9,457.91.
• Pharmaceuticals led the market, with AstraZeneca up about 11% to reclaim the top spot by value as GSK and Hikma also advanced strongly.
• The move followed a 6.7% gain in the third quarter, the index’s strongest performance since late 2022.
• The US government shutdown has started, raising the risk that key economic reports could be delayed and complicate Federal Reserve timing.
• UK indicators stayed soft as the manufacturing PMI fell to 46.2 and the IoD confidence index hit a new low, even as Greggs reported a late-quarter sales improvement.