The FTSE 100 jumped 1.1% to a record 9452 on Wednesday, its best session since July, driven by a sharp rally in pharma stocks. AstraZeneca surged 11%, its strongest gain since 2014, while GSK climbed 6.1% and Hikma rose 6%, after Pfizer struck a deal with the Trump administration to cut drug prices by up to 85% and sell directly to US consumers, securing a reprieve from tariffs. Analysts said the move provided clarity on pricing and lifted hopes other drugmakers could follow. JD Sports gained over 5% as Nike posted a smaller-than-expected 1% sales drop, helped by wholesale and running shoes. Meanwhile, Nationwide data showed UK house prices steady, with signs of gradual strengthening ahead. In the US, a weak ADP report reinforced expectations for more Fed rate cuts this year, while investors kept a close watch on the government shutdown.