FTSE 100 Live: Stocks slide despite airlines and defence gains, US tech rebounds

FTSE 100 slid on the day despite gains in airlines and defence, even as US tech stocks rebounded. In New York, the Nasdaq opened 0.9% higher and the S&P 500 up 0.4%, while the Dow Jones was down 0.1% after closing at a record high ahead of the Independence Day holiday. In the UK, the FTSE 100 was down 40 points at 10,639. UK biotech Myricx Bio agreed to be acquired by Novartis in a deal worth up to $1.5 billion, with $1.1 billion paid upfront and $400 million tied to milestones, supporting its next-generation cancer treatment pipeline. Analysts also welcomed Sky’s planned £950 million shareholder return connected to ITV’s sale, valuing the media business at £1.4–£1.6 billion and implying 5.6–6.4 times expected 2025 earnings.