1037 GMT - Major pharmaceutical stocks GSK and AstraZeneca, alongside aerospace and defense stocks Rolls-Royce and Melrose, are among the biggest FTSE 100 fallers ahead of Trump's tariff announcement later Wednesday. These stocks would be "in the firing line if Trump doesn't give the U.K. special treatment," says AJ Bell's Russ Mould in a note. Many investors hope the U.K. could be spared the worst of the tariffs. However, if U.K. Prime Minister Keir Starmer fails to secure a better deal, companies within pharma, food and drink, aviation, chemical and automotive sectors would be vulnerable, he says. Rolls-Royce is the biggest FTSE 100 faller, down 3.4%; GSK falls 3.2%; Melrose loses 2.6% and AstraZeneca is down 2.3%. The FTSE 100 falls 0.7%. (jessica.fleetham@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 06:37 ET (10:37 GMT)
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