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| AstraZeneca drags down FTSE 100 | AstraZeneca drags down FTSE 100 |
| (about 4 hours later) | |
| Drugmaker AstraZeneca has seen its share price plummet more than 16% after announcing disappointing results. | |
| The firm said first-quarter revenue fell 10% to $5.05bn (£3.84bn). | The firm said first-quarter revenue fell 10% to $5.05bn (£3.84bn). |
| It also reported a major setback in trials of a new lung cancer drug therapy. | It also reported a major setback in trials of a new lung cancer drug therapy. |
| The company was by far the biggest loser on the benchmark FTSE 100 share index, which was up 3.63 points, or 0.05%, to 7,455.95 in Thursday morning trading. | |
| Top gainer on the index was drinks giant Diageo, which rose 7.5% after reporting higher full-year sales and profits. | |
| The maker of Johnnie Walker whisky and Smirnoff vodka reported sales of £12.05bn for the year ending 30 June, a rise of 4% on an organic basis, while operating profit rose to £3.6bn. | The maker of Johnnie Walker whisky and Smirnoff vodka reported sales of £12.05bn for the year ending 30 June, a rise of 4% on an organic basis, while operating profit rose to £3.6bn. |
| Mining firm Anglo American also made strong gains, adding 3.4% after saying it was resuming dividend payments six months early on the back of healthy interim results. | |
| In the currency market, the pound edged higher against the dollar, up 0.18% at $1.3145. Against the euro, the pound was 0.51% higher at 1.1229 euros. |