London stocks slip as investors parse earnings mixed bag

UK ​shares drifted lower on Wednesday as traders digested mixed earnings, before turning their attention to global central bank policy decisions, including ‌the Bank of England.

The blue-chip FTSE 100 index dipped 0.7% by 0950 GMT, slipping for the seventh time in eight sessions. The midcap FTSE 250 eased 0.1%. * AstraZeneca and GSK fell ‌1.4% and 2.1%, respectively, after both drugmakers stuck to their full-year forecasts despite posting ‌better-than-expected quarterly profit.

* Lloyds Banking Group dipped 1.4% despite reporting a better-than-expected rise in first-quarter profit. * Earnings season is in full swing with investors cautious of any impact stemming from the Iran war.

* Efforts to ⁠end ​the Iran war were ⁠at an impasse with U.S. President Donald Trump unhappy with the latest proposal from Tehran as he wants ⁠nuclear issues dealt with from the outset. * The war stalemate gives way to a Federal ​Reserve meeting later on Wednesday, followed by results from megacaps Alphabet , Microsoft, Meta and ⁠Amazon , which could set the tone for markets.

* With geopolitical uncertainty still high, the BoE is ⁠set to ​keep interest rates unchanged on Thursday. * Tentative hopes of a resolution to the U.S.-Iran war have helped steady the FTSE 100, putting it on track for a ⁠marginal April gain after the conflict drove its worst monthly slump in six years.

* Among other ⁠moves, DCC surged ⁠16% after the sales and marketing services provider said it was reviewing a cash takeover proposal from a consortium comprising U.S. investment firms ‌Energy Capital ‌Partners and KKR.

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