# UK’s FTSE 100 slips ahead of business activity data
Published: 2023-01-24
Category: Investment
Category URL: https://business.express/category/investment/
Meta Title: Stay updated on FTSE 100 as losses in pharma drag index
Meta Description: Stay updated on FTSE 100 as losses in pharma drag index. Key data ahead for economy insights. Follow the British market trends closely.
URL: https://business.express/uks-ftse-100-slips-ahead-of-business-activity-data/

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(Reuters) – UK’s FTSE 100 slipped on Tuesday, as losses in pharmaceutical companies’ stocks weighed on the index, while investors awaited British business activity data that would offer clues on the state of the economy.

The blue chip FTSE 100 slipped 0.5% at 0825 GMT, while the domestically-inclined FTSE 250 midcap index rose 0.1%.

Early losses in drugmaker AstraZeneca and GSK weighed on the FTSE 100, with both the stocks dropping 2.2% and 0.8%, respectively.

Oil majors BP and Shell also added to losses, falling between 0.5% and 0.8%.

Investors would be on the lookout for UK’s January business activity data due 0930 GMT, a crucial pit stop in gauging the state of the economy heading into the Bank of England’s (BoE) decision on interest rates next week.

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Rashmi Aich)


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