FTSE 100 slides amid US‑Iran tensions and AstraZeneca trial miss

The UK’s FTSE 100 fell back below the 10,500 level, testing support around 10,432 as renewed fighting between the United States and Iran revived geopolitical risk and pushed crude oil prices up by about 5%. The index’s decline was amplified by a 6.2% drop in AstraZeneca shares after the company announced that its phase‑three cardiovascular drug Wainua (eplontersen) failed to meet its primary mortality and cardiovascular event endpoints. AstraZeneca, the second‑largest weight in the FTSE 100, dragged the broader market down, offsetting gains in mining stocks such as Antofagasta, Anglo American and Glencore, which rose 5‑6% on higher metal prices. Gold, silver and copper also posted gains. In other markets, European indices edged higher and US equities rose modestly, while the euro and pound showed mixed movements against the dollar. The FTSE’s near‑term direction now hinges on whether the 10,432 support holds; a break could see the index slide toward 10,300 and lower levels.