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AstraZeneca’s rise to the FTSE top spot feels like a sell signal

Bryce Elder

AstraZeneca has shot past Royal Dutch Shell to become the UK’s biggest company by market capitalisation — a changing of the guard from oil to drugs that feels like a sign of the times. The drugmaker’s climb to the top of the pile this year has cemented its status as a success story of the UK market. A gain of 15 per cent so far this year values the Anglo-Swedish company’s equity at around £115bn.