Babcock H1 profits surge, GSK files lawsuit against AnaptysBio
By Iain Gilbert
Date: Friday 21 Nov 2025
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open 94.1 points lower ahead of the bell on Friday after wrapping up the previous session 0.21% higher at 9,527.65.
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Babcock International delivered a big jump in profits over the six months ended 30 September, driven by double-digit organic growth in its nuclear division and an improvement in group margins. Babcock, which provides engineering support to defence markets along with products like naval ship and weapons handling systems, said it remains on track to achieve its expectations for the full year.
Property development and investment firm Hammerson said on Friday that it has acquired the remaining 50% stake in The Oracle, as it reported strong year-to-date trading and lifted its EPRA earnings guidance for FY25. Hammerson completed the £104.5m purchase of the remaining 50% stake in The Oracle, located in Reading, from joint venture partner ADIA, with the deal reflecting a stabilised yield of 8.9% and expected to be around 5% accretive to FY26 EPRA earnings.
GSK has filed a lawsuit against AnaptysBio in the US over licensing rights for its Jemperli cancer treatment. The suit, filed via GSK's Tesaro subsidiary, alleges a breach of the current agreement, with the UK pharmaceutical firm demanding a perpetual license to the drug and halving royalties and milestone payments to AnaptysBio.
NEWSPAPER ROUND-UP
The Serious Fraud Office has arrested two men as it launched an investigation into a suspected £20m cryptocurrency fraud. The law enforcement agency raided two sites in West Yorkshire and London as it appealed for information about $28m (£21.4m) invested into a cryptocurrency scheme called Basis Markets. Two men, one in his 30s and another in his 40s, were arrested on suspicion of multiple fraud and money-laundering offences, the agency said. - Guardian
A former City boss has lost out on a £10m-a-year job at one of America's top insurance companies over claims he had an affair with a colleague. John Neal, who ran Lloyd's of London until earlier this year, was set to join New York insurer AIG but had his offer revoked last week after the US giant learned he was being investigated for an alleged past workplace romance. Lloyd's, the centuries-old insurance marketplace, is looking into claims Mr Neal had a relationship with Rebekah Clement, a PR executive at the company, and unfairly promoted her. - Telegraph
Marmite, Bovril and Colman's Mustard could change hands for the first time in 25 years as the owner of the iconic British brands considers a sale. Unilever is mulling a carve-off of some of its best-known British products as it pivots from food to health and beauty. The FTSE 100 consumer goods giant owns brands including Dove, TRESemmé and Vaseline. A sale risks being seen as a further retreat from Britain by the Anglo-Dutch business. Unilever sold off Scottish-founded Liptons Tea to private equity in 2022 and has snubbed the London Stock Exchange for a looming spin-off of its ice cream brands. - Telegraph
The operator of the Channel Tunnel has halted millions of pounds of planned rail investments in Britain and warned of higher fares in response to a possible tripling in its business rates bill. Eurotunnel, part of France's Getlink, said it had been informed by the Valuation Office Agency that it planned to increase its rateable value by 200%. - The Times
American law firms have fired the starting gun on the latest pay war in the City by handing out bonuses three times larger than those of English rivals. Two Wall Street firms, including one of New York's most established "white shoe" outfits, have led the way with year-end bonuses for top flight associate solicitors in London of $149,500 (£114,000). - The Times
US CLOSE
Major indices closed lower on Thursday after a dramatic turnaround in shares of artificial intelligence darling Nvidia as market participants gave up hope that the central bank would move to cut rates again in December.
At the close, the Dow Jones Industrial Average was down 0.84% at 45,752.26, while the S&P 500 shed 1.56% to 6,538.76 and the Nasdaq Composite saw out the session 2.15% weaker at 22,078.05.
Reporting by Iain Gilbert at Sharecast.com
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