UPDATE 1-London stocks fall as investors weigh mixed earnings; focus on Fed, BoE

British shares drifted lower on Wednesday ​as investors parsed a mixed bag ​of corporate earnings, with attention turning ‌towards central ​bank decisions on both sides of the Atlantic. The blue-chip FTSE 100 index fell 1.2%, slipping for the seventh time in eight sessions ‌and closing at its lowest in a month.

British shares drifted lower on Wednesday ​as investors parsed a mixed bag ​of corporate earnings, with attention turning ‌towards central ​bank decisions on both sides of the Atlantic.

The blue-chip FTSE 100 index fell 1.2%, slipping for the seventh time in eight sessions ‌and closing at its lowest in a month. The midcap FTSE 250 eased 1%. * AstraZeneca and GSK fell 1.5% and 5.4%, respectively, after both drugmakers stuck to their full-year forecasts despite posting better-than-expected quarterly ‌profit.

* Lloyds Banking Group dipped 1.5% despite reporting a better-than-expected rise in first-quarter profit. * Earnings season ‌is in full swing with investors cautious of any impact stemming from the Iran war as surging oil prices continued to pressure markets.

* Efforts to end the Iran war were at an impasse with U.S. President Donald Trump ⁠unhappy with ​the latest proposal from Tehran ⁠as he wants nuclear issues dealt with from the outset. * The Federal Reserve was meeting later on Wednesday, followed ⁠by results from megacaps Alphabet, Microsoft , Meta and Amazon, which could set the tone for markets globally.

* ​With geopolitical uncertainty still high, the BoE was set to keep interest rates unchanged on ⁠Thursday. * Tentative hopes of a resolution to the Iran war have helped steady the FTSE 100, putting it on ⁠track ​for a marginal April gain after the conflict drove its worst monthly slump in six years.

* Among other moves, DCC surged 9.3% after the sales and marketing services provider said it was ⁠reviewing a cash takeover proposal from a consortium comprising U.S. investment firms Energy Capital Partners and KKR. * ⁠Money manager St. ⁠James's Place fell 6% after reporting first-quarter net inflows of 1.53 billion pounds ($2.07 billion), down from 1.69 billion pounds ($2.28 billion) a year earlier.

($1 = 0.7407 pounds)