On November 11, shares of pharmaceutical giant AstraZeneca PLC (AZN) rose 2.5% intraday to £134.6, setting a new all-time high. With its market capitalization nearing £210 billion ($282 billion), the company further solidified its position as the largest constituent by weight in the UK stock market.

As the top-weighted stock in the FTSE 100 index, AstraZeneca's strong performance significantly buoyed the broader market. Supported by robust UK employment data that reinforced expectations of central bank rate cuts, the FTSE 100 also climbed 1.1% intraday, reaching a fresh record high.

The rally was primarily driven by AstraZeneca's better-than-expected earnings report released last week. The financial results showed an 11% year-on-year increase in total revenue for the first three quarters, alongside a 15% rise in core earnings per share, fueled by sustained demand for innovative drugs. All business segments and key regional markets delivered steady growth.

Additional momentum came from a US drug pricing agreement finalized in October, which alleviated market concerns over policy uncertainty in the critical American market. The US, AstraZeneca's largest revenue source accounting for over 40% of total sales, exerts substantial influence on the company's stock performance.