S&P lowers rating on Astrazeneca, says outlook is negative
1st May 2015 16:50
Standard & Poor's has downgraded its rating on Astrazeneca to 'A-1' from 'A-1+', citing a negative outlook amid competition from generic drugmakers. The ratings agency said lost sales to generic competition and significant costs accrued from investments into new drug research and marketing had hurt
Read moreFTSE 100 movers: Astrazeneca hit by rival success, Centrica higher on takeover preparations
28th Apr 2015 13:28
Astrazeneca was trading lower after the results of a study showed US rival Merck's diabetes drug met heart-safety requirements. The British drug-maker's own treatment for the disease was recently required by US authorities to provide information about the risk of heart failure. Standard Chartered wa
Read moreFTSE 100 movers: HSBC rockets on domicile review, Astra hit by heartburn rival
24th Apr 2015 13:19
HSBC topped the risers as it launched a review of its UK domicile in light of the changing regulatory landscape. Some media commentators suggested the announcement, carefully timed ahead of the general election, was politically motivated. After receiving some takeover interest in one of its division
Read moreLondon open: Analysts sanguine on Greece, oil forecasts revised higher
24th Apr 2015 09:17
Stocks have begun the morning moving modestly higher on residual optimism over the Greek debt negotiations and on the coat-tails of overnight gains on Wall Street, which saw the Nasdaq Composite close above its previous early 2000 record highs. "Greece is cash-strapped, and the situation is worsenin
Read moreAstraZeneca earnings fall as generic drugs depress sales, 16% object to board pay
24th Apr 2015 08:11
Drug giant AstraZeneca popped the cap on falling first-quarter sales and earnings but both were at least in line with expectations, while shareholders later gave the board a 'bloody nose' on its director pay policy. Revenues were down 6% to $6.1bn, ahead of consensus City forecasts of $5.7bn, with o
Read moreLondon midday: Bloomberg outage, Chinese regulations send stocks into the red
17th Apr 2015 12:02
After a solid start UK stocks sank into the red by Friday lunchtime, moving further away from recent records amid a blackout on Bloomberg computer terminals and new regulations in China on short-selling. Bloomberg's trading and information units are heavily relied upon by roughly 320,000 people arou
Read moreLondon open: Stocks rise modestly amid Greek talks, UK economic data
17th Apr 2015 08:35
Stocks in London advanced on Friday morning on a quiet day for corporate newsflow, with investors awaiting key employment data from the UK while digesting Greek debt talks. "The FTSE opened the day on the positive side of flat, after yesterday afternoon's [...] declines pulled the index away from it
Read moreLondon pre-open: Flat start expected, Greek talks in focus
17th Apr 2015 07:50
UK stock markets are set for a subdued start on Friday morning as investors focus on Greek debt talks on a quiet day for corporate news. City sources predict the FTSE 100 will open more or less flat on Thursday's close of 7,060.45. The index had pulled back the previous session from Wednesday's reco
Read moreAstrazeneca wins US Orphan status for eye cancer drug
17th Apr 2015 07:35
Astrazeneca's eye cancer treatment, selumetinib, has been given 'orphan drug' status by US regulators, which should smooth its path to full approval. The product would be the first in the world to treat uveal melanoma, in which cancer cells form in eyeball tissue, with studies having found it makes
Read moreThursday broker round-up
16th Apr 2015 13:42
AstraZeneca: Societe Generale reiterates buy and 6,660p target price. Tesco: Nomura reiterates neutral and lowers target to 185p from 190p. Burberry: UBS reiterates neutral stance and lifts target to 1,800p from 1,650p. Royal Dutch Shell: Barclays reiterates overweight. Persimmon: Shore Capital r
Read moreLondon midday: Stocks at new all-time high on Chinese stimulus hopes
15th Apr 2015 11:38
UK stocks were at a new record on Wednesday with investors looking on the bright side of weak economic from China, with hopes for further stimulus from Beijing pushing miners higher. Chinese economic growth slowed to a six-year low, while growth in fixed-asset investment, industrial production and r
Read moreLondon open: Stocks set new record as Chinese slowdown fuels stimulus hopes
15th Apr 2015 08:44
UK stocks reached a new all-time high on Wednesday morning as a raft of weak economic figures from China gave shares in the heavyweight mining sector a boost on hopes of further stimulus from Beijing. Chinese economic growth slowed to a six-year low, while growth in fixed-asset investment, industria
Read moreAstrazeneca boosted by US diabetes recommendation
15th Apr 2015 07:15
Astrazeneca gave US regulatory updates on two pipeline products, with an encouraging review for a pair of diabetes treatments and granting of 'orphan drug' status for a cancer treatment that should ease its path to marketing approval. A pair of drug combinations to treat type-2 diabetes were, after
Read moreWednesday broker round-up:
8th Apr 2015 16:42
AstraZeneca: Morgan Stanley lifts target price to 4,500p from 4,300p, reiterates underweight. BG Group: Canaccord Genuity improves target price to 1,300p from 1,016p and downgrades to hold. GlaxoSmithKline: Deutsche Bank raises target price to 1,600p from 1,300p and reiterates hold. Tate&Lyle: Num
Read moreLondon close: Stocks higher as focus shifts towards Greece
19th Mar 2015 17:30
UK equities registered slight gains as traders digested the policy announcement issued by the US Federal Reserve overnight and despite the renewed tensions evident in Greek funding markets. The Footsie ended the day 17 points higher at 6,962.32, with some effects from Wednesday's Budget from Chancel
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