FX.co ★ London Stocks on Cautious Note

On Wednesday, the FTSE 100 experienced a slight dip, hovering around the 8,600 mark, as investors anticipated President Donald Trump's impending announcement regarding extensive new reciprocal tariffs on global trade partners. The pharmaceutical sector saw significant declines, with GSK and AstraZeneca among the most notable losers, echoing a similar downturn in major U.S. pharmaceutical stocks overnight. Housebuilding firms also faced challenges, with Persimmon, Barratt, and Taylor Wimpey leading the sector's fall. In corporate developments, Greencore, a convenience food producer, disclosed that it had reached a preliminary agreement to acquire competitor Bakkavor for £1.2 billion, following the rejection of two earlier proposals.