Footsie down on US technology forecasts

Gains by drugs stocks were not enough to tempt investors into the wider London market today as a slump in global indices took its toll.

Pharmaceutical giants GlaxoSmithKline and AstraZeneca were the biggest top-flight climbers, up 22p and 35p to 1275p and 2276p respectively, after a court ruling that the patent on one of US counterpart Eli Lilly’s drugs was valid.