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London’s FTSE 100 index closed the trading week 0.92% in the red as the competition regulator’s designation of Google’s search activities dominated the headlines.
The UK Competition and Markets Authority designated the Alphabet unit with strategic market status, citing the US technology giant’s “substantial and entrenched” market power in general search and search advertising. The status covers Google’s artificial intelligence-based search features but excludes its Gemini AI assistant.
“We will likely face new rules and regulations on how Search works,” Google said in a blog post following the designation. “Google supports the CMA’s goal to ensure the UK’s competition framework mirrors the best interests of UK consumers and businesses. We hope to see outcomes that reflect such ambitions in the crucial months ahead.”
In other news, AstraZeneca (AZN.L) intends to invest $4.5 billion in a new US manufacturing facility in Charlottesville, Virginia, as part of a $50 billion US investment plan announced in July. The facility is expected to be operational in the next four to five years. The British drugmaker fell 1.39% on Friday’s close.
Elsewhere in the sector, the UK Medicines and Healthcare products Regulatory Agency and the National Institute for Health and Care Excellence are giving some pharmaceutical companies early access to the aligned approvals pathway six months earlier than anticipated. A new fully integrated joint scientific advice service is set to launch by April 2026.
On the economic front, next week’s calendar will feature the UK’s gross domestic product report, labor data, trade balance and production figures for August.