IAG beats on Q3 revenue; AstraZeneca discloses 'positive' Phase 3 clinical trial
By Digital Look
Date: Friday 08 Nov 2024
(Sharecast News) - London open:
FTSE 100 futures are trading 12.50 points higher to 8,185.0.
Stocks to watch:
IAG beat analysts' forecasts for topline growth in the third quarter and delivered strong guidance. Total revenues for the three months to September rose by 7.9% to reach approximately €9.33bn (consensus: €9.1bn), for a 15.4% jump in operating profit to €2.01bn. The carrier also announced a €350m share buyback programme.
AstraZeneca has announced positive high-level results from a phase III for its Texspire treatment for nasal polyps. The company said results from the WAYPOINT trial, which evaluated the efficacy and safety of Tezspire (otherwise known as tezepelumab) compared to a placebo in adults with severe chronic rhinosinusitis with nasal polyps, showed a "statistically significant and clinically meaningful reduction in the size of nasal polyps and reduced nasal congestion compared to placebo".
Investment fund Oaktree Capital Management has written to Indivior urging the opioid addiction treatment maker to refresh its board with directors "committed to taking all steps necessary to improve shareholder value". The letter, sent on Wednesday and published in a regulatory filing on Thursday, came just under a month after Indivior cut its full-year revenue forecast for the second time following a weaker-than-expected third-quarter performance from Sublocade, sending its shares tumbling.
In the press:
Dozens of health and children's groups have urged ministers to tackle obesity by imposing taxes on foods containing too much salt or sugar. New levies based on the sugar tax on soft drinks would make it easier for consumers to eat more healthily by forcing food manufacturers to reformulate their products, they claim. - Guardian
Artificial intelligence could displace between 1m and 3m private sector jobs in the UK, though the ultimate rise in unemployment will be in the low hundreds of thousands as growth in the technology also creates new roles, according to Tony Blair's thinktank. Between 60,000 and 275,000 jobs will be displaced every year over a couple of decades at the peak of the disruption, estimates from the Tony Blair Institute (TBI) suggest. - Guardian
Bentley has pushed back plans to go fully electric by five years as driver uptake of battery-powered cars continues to fall short of the industry's hopes. In an announcement on Thursday, bosses confirmed that the British marque will switch to an all-electric lineup by 2035 instead of 2030. It comes months after Bentley delayed the launch of its first electric vehicle (EV) from 2025 to 2026. Originally envisaged as a grand tourer, it will also be a "luxury urban SUV", the company said. - Telegraph
US close:
Major indices delivered a mixed performance on Thursday as market participants digested former president Donald Trump's re-election victory and the latest interest rate decision from the Federal Reserve.
At the close, the Dow Jones Industrial Average was flat at 43,729.34, while the S&P 500 advanced 0.74% to 5,973.10 and the Nasdaq Composite saw out the session 1.51% firmer at 19,269.46.
The Dow closed 0.59 points lower on Thursday after registering its biggest post-election rally for more than a century in the previous session.
Besides the Republican Party's White House victory, Thursday's primary focus was news that rate-setters had decided to ease monetary policy by a further 25 basis points, as expected. Nonetheless, they shied away from providing more forward guidance until the new US administration's policies were known and could be modelled.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN