Business

AstraZeneca drags down FTSE 100

Trader in front of FTSE screen Image copyright Getty Images

Drugmaker AstraZeneca has seen its share price plummet more than 15% after announcing disappointing results.

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.

The company was by far the biggest loser on the benchmark FTSE 100 share index, which was down 9.31 points, or 0.12%, to 7,443.01 at close on Thursday.

Top gainer on the index was drinks giant Diageo, which rose nearly 6% 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.

Mining firm Anglo American also made strong gains, adding 3.22% after saying it was resuming dividend payments six months early on the back of healthy interim results.

In the currency market, the pound edged lower against the dollar, down 0.40% at $1.3069. Against the euro, the pound was 0.29% higher at 1.12040 euros.