London open: Markets rise on last-minute deal to save Cyprus
25th Mar 2013 08:20
Stocks advanced strongly on Monday morning after 11th-hour talks to save Cyprus from default resulted in a last-minute bailout deal with the Troika. "Markets clearly appear to be more hopeful than they ought to be on the Eurozone muddling through this crisis - this would suggest that any potential
Read moreAstraZeneca settles litigation over crestor patent
25th Mar 2013 07:17
FTSE 100-listed biopharmaceutical business AstraZeneca has entered into a settlement agreement in its US patent infringement litigation against Watson Laboratories, Actavis (formerly known as Watson Pharmaceuticals), and EGIS Pharmaceuticals regarding Watson's proposed rosuvastatin zinc product. A
Read moreMonday broker round-up UPDATE
25th Mar 2013 07:12
Amur Minerals Corporation: HB Markets initiates with a speculative buy. ARM Holdings: Bank of America Merrill Lynch reiterates buy and 1,145p price target. AstraZeneca: Deutsche Bank raises target price from 2800p to 3100p and keeps a hold recommendation. Exane BNP ups target price from 3100p to 3
Read moreFTSE 100 movers: BT group lifted by Nomura upgrade
22nd Mar 2013 15:23
BT Group rose after Nomura upgraded the stock to 'buy', raising its target price from 290p to 360p, citing positive news flow from the company's upcoming restructuring plan, and a "solid" launch of BT Sport, which it believes will "override noise on union wage negotiations and the widening of the pe
Read moreFriday tips round-up: AstraZeneca, Premier Oil, Icap
22nd Mar 2013 07:20
Whereas most pharmaceutical groups have opted for diversification to deal with their own 'patent-cliffs' AstraZeneca is going down the path of focusing on a small group of core markets. Hence, the company is a purer play on pharma hopes and so offers higher risks and higher rewards. Nevertheless, tr
Read moreLondon close: Stocks fall on Eurozone fears
21st Mar 2013 16:20
The FTSE continued its journey lower today, as investors grew increasingly concerned over events in Cyprus and the Eurozone generally. Manufacturing data from the region showed its fastest rate of contraction in three months, dashing hopes of an economic recovery. Things were looking up closer t
Read moreFTSE 100 movers: Next rises on profit increase
21st Mar 2013 15:04
UK retailer Next leapt into the top spot after posting a rise in full year profits, boosted by growth in online sales and business expansion. Pre-tax profits climbed by 9.0% to £621.6m for the year to the end of January 2013, compared to £570.3m a year earlier. AstraZeneca was up after making th
Read moreAstraZeneca announces plans to develop research centre at Karolinska Institutet
21st Mar 2013 12:50
AstraZeneca, the FTSE 100 biopharmaceutical giant, on Thursday unveiled plans to create an integrated translational research centre for cardiovascular and metabolic disease and regenerative medicine at medical university Karolinska Institutet's site in Stockholm. The centre will run for an initial
Read moreLondon midday: Selling abates ahead of US data barrage
21st Mar 2013 11:50
UK stocks were near their lows of the day by mid-session, weighed down by the much weaker than forecast manufacturing and services sector data out this morning in the Eurozone. That came ahead of a barrage of macroeconomic statistics which were scheduled for release in the United States this after
Read moreAstraZeneca and Moderna Therapeutics sign deal to develop RNA therapeutics
21st Mar 2013 11:04
FTSE 100-listed biopharmaceutical business AstraZeneca has signed an exclusive agreement with Moderna Therapeutics to discover, develop and commercialise messenger RNA therapeutics for the treatment of cardiovascular, metabolic and renal diseases. Under the terms of the agreement, AstraZeneca will
Read moreAstraZeneca outlines strategy to return to growth
21st Mar 2013 07:14
Biopharmaceutical business AstraZeneca will drive its on-market growth platforms to return to growth as it moves through a period of patent expiries and revenue declines, an update issued by the group has shown. It said that it would progress its Phase II pipeline, which has the potential to doubl
Read moreWednesday broker round-up UPDATE
20th Mar 2013 08:53
Abcam: Canaccord Genuity moves target price from 344p to 358p, but still recommends selling. Antofagasta: Jefferies cuts target price from 1350p to 1100p, while keeping a hold recommendation. ASOS: Cantor Fitzgerald raises target price from 2500p to 2900p reiterating a hold recommendation. Panmure
Read moreLondon close: Stocks trim losses as bank-run fears subside
18th Mar 2013 16:44
After registering sharp declines early on, stock markets across Europe had clawed back losses by the close of trade on Monday, as concerns of a contagious bank run across the Eurozone periphery were eased. Markets suffered a steep sell-off in the morning session after this weekend's controversial b
Read moreAstraZeneca announces job cuts and new research centres
18th Mar 2013 13:04
Biopharmaceutical company AstraZeneca is axing 1,600 jobs as part of plans to invest in new research and development (R&D) centres in the US, UK and Sweden. AstraZeneca said it would reduce its headcount and relocate 2,500 roles to the new centres in Cambridge, UK, Gaithersburg, US, and Mölndal, Sw
Read moreThursday broker round-up UPDATE
14th Mar 2013 07:11
Amara Mining: After having been under review, Cantor Fitzgerald reinitiates coverage with a price target of 81p and a buy recommendation. Antofagasta: Citigroup shifts target price from 990p to 1000p, but retains its sell recommendation. Ashtead Group: Investec raises target price from 475p to 700
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