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The FTSE 100 has reached a record high, driven by a powerful rally in pharmaceutical stocks and a stronger pound, which rose for the fourth consecutive day to trade above $1.35.
The spotlight was on AstraZeneca, whose shares surged as much as 9.4%, marking their steepest jump since July 2020, when the company released its early, positive results for a Covid-19 vaccine. If sustained, it would be AstraZeneca’s best single-day performance since April 2014.
The momentum extended across the broader health care sector. The Stoxx 600 health care index surged 4.7%, putting it on track for its biggest one-day gain since November 2020.
The rally underscores investor confidence in the pharmaceutical sector’s resilience, with AstraZeneca emerging as the key driver behind today’s record-breaking performance for London’s blue-chip index.
