FTSE 100 up 0.4, FTSE 250 adds 0.2
AstraZeneca initiates withdrawal of its COVID19 vaccines; shares up
J D Wetherspoon advances after upbeat profit forecast
Informa rises on upbeat outlook; hike in share buyback

May 8 Reuters The UK39;s FTSE 100 benchmark stock index scaled new highs on Wednesday, led by AstraZeneca after the drugmaker initiated a worldwide withdrawal of its COVID19 vaccine, while investors awaited the Bank of England39;s interest rate verdict.

The bluechip FTSE 100 edged up 0.4 at 8,344.75 to an alltime peak.

The midcap FTSE 250 gained 0.2, set to rise for a third straight session. Both indexes have been gaining on a weaker pound that slipped against the dollar and was last at 1.248.

AstraZeneca advanced 1.6 after the drugmaker said it initiated a worldwide withdrawal of its COVID19 vaccine due to a surplus of available updated vaccines since the pandemic.

Pharmaceuticals as a sector has been in the eye of favour, investors are growing in favour for a number of months now, a lot of thematic investors have been looking at healthcare and pharma as kind of the next big themes, said Gene Salerno, chief investment officer, SG Kleinwort Hambros.

Industrial metal miners, however, fell 1.1 after prices of most base metals slipped on a firmer dollar.

All eyes will be on the BOE39;s interest rate decision on Thursday, where it is widely expected to keep rates unchanged. However, dovish bets have risen recently, with markets pricing in a first rate cut…