June 9 (Reuters) - UK's blue-chip FTSE 100 slipped on Tuesday, weighed by shares of GSK after the healthcare company announced plans to acquire shares of U.S.-based drug developer Nuvalent for $10.6 billion as it seeks to boost its lung cancer treatments.
The blue-chip FTSE 100 index slipped 0.3% to 10,341 points by 0810 GMT, while the midcap FTSE 250 edged up 0.2%.
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Shares of GSK lost 2.8% and weighed on the broader FTSE 350 Pharmaceuticals and Biotechnology index that fell 1.6% and was the biggest sectoral decliner.
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Global markets were also eyeing signs of de-escalation in the Middle East after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump, who also said that he could have "an idea" for an Iran deal within a few days.
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Inflation concerns, stemming from higher energy costs due to the conflict, have had investors price in a 25 basis point interest rate hike by the Bank of England in September, according to LSEG-compiled data.
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The main FTSE indexes have underperformed their peers in Asia and the U.S., given their minimal exposure to AI stocks. Against this backdrop, Britain set out a new £1.1 billion ($1.47 billion) plan to build domestic AI computing capacity.
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Among other stocks, BP slipped 1%, tracking a slip in crude prices. Attention on the company has piqued after the firing of former chair Albert Manifold and a latest report said investors and former executives at the oil major were in the dark about the precise circumstances that led to his departure.
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Venture Capital firm Molten Ventures gained 9.5% after announcing annual results, Fever-Tree Drinks gained 6.4% after the carbonated mixer supplier said it is confident of meeting full-year market expectations for revenue and core profit and announced an increase in share buybacks.
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Homebuilder MJ Gleeson lost 3.5% after projecting annual adjusted pretax profit below market expectations.
Reporting by Johann M Cherian in Bengaluru
Source: Reuters