FTSE 100 Falls on Monday

The FTSE 100 edged lower on Monday, pressured by a 9% decline in AstraZeneca shares, after reports that the British drugmaker had held merger discussions with US-based Bristol Myers Squibb. Analysts questioned the potential deal, arguing that it lacks both strategic and financial justification. Energy stocks also weighed on the index after Brent crude slipped below $84 per barrel amid optimism that negotiations could help restore shipping through the Strait of Hormuz, easing concerns over Middle East supply disruptions. BP shares declined more than 0.5% in response. In contrast, homebuilders outperformed, with Barratt Redrow rising over 3% and Persimmon gaining more than 2.5%, as investors pared expectations for further Bank of England interest rate hikes. Banking stocks also advanced, while Rolls-Royce added around 2%. Meanwhile, final data showed UK manufacturing activity continued to expand in July, although the pace of growth slowed despite stronger new orders.




