London, March 2, 2026, 08:30 GMT — Regular session
- GSK slipped roughly 1% not long after the open in London, in line with losses across UK blue chips.
- The drugmaker launched yet another batch of share buybacks as part of its ongoing repurchase program.
- Oil prices remain in focus for traders, who are also eyeing a crucial U.S. FDA decision for GSK that’s expected on March 24.
GSK plc (GSK.L) slipped 1.1% to 2,177 pence as of 0823 GMT, having moved between 2,172 and 2,194 earlier. The FTSE 100 shed roughly 0.7%. AstraZeneca shares dropped, too. Google
Markets pulled back as oil prices shot higher, with renewed fighting in the Middle East snarling traffic near the Strait of Hormuz. The disruption rattled investors, driving a move into safe-haven assets and rekindling inflation fears. “Markets are acknowledging the seriousness of the conflict, but are also signalling that, for now, this is a geopolitical shock, not a systemic crisis,” said Priyanka Sachdeva, senior analyst at Phillip Nova. Reuters
GSK picked up 430,000 of its own ordinary shares on Feb. 27 via BNP Paribas, shelling out an average of 2,179.36 pence apiece, volume-weighted. Those shares head straight to treasury. Counting the latest move, the company has scooped up 4,136,000 shares since Feb. 17. GSK’s treasury stock now totals 244,027,094 shares, which comes to roughly 5.99% of its voting rights. Investegate
Treasury shares refer to stock that a company buys back and holds onto, instead of canceling it. Investors keep an eye on buybacks, since those can shrink the pool of shares available in the market over time.
Action in the coming sessions could hinge less on pharma headlines and more on how the tape behaves. Investors are bracing for a batch of U.S. numbers this week—manufacturing surveys, jobs data—while crude prices and rate moves remain in sharp focus. Reuters
There’s a risk for GSK, and really the broader market: if energy prices stay high for longer, inflation expectations could become entrenched, putting pressure on valuations. Even defensive stocks aren’t immune—persistent volatility can force investors to dump them for cash, regardless of how solid their earnings appear.
GSK’s next big moment comes on the regulatory front: the U.S. Food and Drug Administration has pinned March 24, 2026 as its decision date for linerixibat in cholestatic pruritus tied to primary biliary cholangitis. “The FDA’s acceptance of this file is an important milestone,” said Kaivan Khavandi, a senior vice president in GSK R&D, after the review got underway. It’s worth noting the drug doesn’t have approval anywhere yet. gsk.com
