FTSE 100 set for monthly gains; AstraZeneca up after results

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Oct 30 - London's FTSE 100 looked on track to log its first monthly gain in three months, edging up on Friday as AstraZeneca rose, with investors welcoming a budget that was softer than expected on taxes.
The blue-chip FTSE 100 index .FTSE was 0.1% higher at 10,732.58 points by 0941 GMT, adding to the month's gains at 1.3%. The midcap FTSE 250 .FTMC slipped 0.6%.
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On the day, AstraZeneca AZN.L rose 3.6%, after the Anglo-Swedish drug-maker announced a restructuring drive that will likely save $1.5 billion and help achieve long-term ambitions, including investing in new drug pipelines
The broader pharma sector .FTNMX201030 gained 3%, setting it up for its biggest monthly gain since February
Banks .FTNMX301010 weighed most on the index on the day, after NatWest NWG.L lost 7.9% following disappointing third-quarter profit
Precious .FTNMX551030 and industrial .FTNMX551020 metal miners lost 3.4% and 1.3%, respectively, tracking declines in gold and copper GOL/ MET/L
Oil prices rose about 2% on Friday, set for a fourth monthly gain, with Brent crude futures LCOc1 trading at over $117 a barrel O/R
Energy .FTNMX601010 rose 0.2%. BP BP.L was up marginally after it posted a record quarterly net profit
Finance Minister John Healey's first budget raised taxes on banks and gambling firms, which were less severe than expected, sparking a rally in the stocks on Wednesday
Defence firms also rallied after Healey said that 'reprioritisation' in other departments would fund the government's defence plan. Aerospace and defence firms are among the best performers this week
Consumer staples stocks rose on the day, with British American Tobacco BATS.L and Unilever ULVR.L up about 2%
Earlier this month, data showed inflation rose more than expected in September, cementing the case for an interest rate hike by the Bank of England in November 

(Reporting by Darshan Kumar and Purvi Agarwal in Bengaluru; Editing by Harikrishnan Nair)
((darshan.kumar@thomsonreuters.com))