Qinetiq cautions of tough market conditions, AstraZeneca to acquire EsoBiotec
By Digital Look
Date: Monday 17 Mar 2025
(Sharecast News) - London open:
As of 0725 BST FTSE 100 futures were adding 7.50 points to 8,647.50.
Stocks to watch:
Defence contractor QinetiQ said it would take a £140m impairment charge as tough market conditions persisted into the fourth quarter, hitting work in its UK intelligence and US sectors resulting in further delays to a number of contract awards.
AstraZeneca announced that it is spending up to $1bn to acquire Belgian biotech firm EsoBiotec, which it says has the potential to "transform" cell therapy. EsoBiotec's in vivo delivery platform, administered through IV injection, is able to deliver genetic instructions to the T cells, programming them to recognise and attack cancer cells directly.
Energean said that it remains committed to closing the sale of its portfolio in Egypt, Italy and Croatia to an outfit controlled by Carlyle International Energy Partners. Carlyle had yet to obtain regulatory approvals in Italy and Egypt, as well as antitrust approvals in Italy, Egypt and Common Market for Eastern and Southern Africa. However, the transaction was subject to a longstop date of 20 March, or whichever other date was agreed by Energean and Carlyle. So absent an extension being agreed, the transaction could be terminated, Energean said.
In the press:
Rachel Reeves will meet UK regulators on Monday after calling for more action to restrict red tape and spur economic growth. The chancellor argued that government plans would reduce costly delays and disputes, saving businesses billions, and said regulators must accept a more streamlined decision-making process. Reeves is expected to use the meeting to announce more detail on how the government will cut the cost of regulation by a quarter and set out plans to slim down or abolish regulators themselves. - Guardian
Vacancies have increased in the construction industry as well as for gardeners, teachers and maintenance workers, according to a new report. Research by the Recruitment and Employment Confederation (REC) and data firm Lightcast showed a recent fall in demand for veterinary nurses, delivery drivers and train and tram drivers. - Guardian
Elon Musk's Tesla has been forced to halt sales of its electric Cybertruck pickup amid mounting concern about metal panels falling off the supposedly indestructible vehicles. Customers posting on the Cybertruck Owners Club website - as well as on Mr Musk's own X, formerly Twitter - said they had been told by agents that deliveries were on hold. - Telegraph
US close:
Major indices closed higher on Friday in what had otherwise been a losing week for the Dow Jones.
At the close, the Dow Jones Industrial Average was up 1.65% at 41,488.19, while the S&P 500 advanced 2.13% to 5,639.94 and the Nasdaq Composite saw out the session 2.61% firmer at 17,754.09.
The Dow closed 674.62 points higher on Friday, reversing losses record in the previous session and halting the blue chip's losing streak.
Stocks traded higher on the back of news that a Federal government shutdown had been avoided after Senate minority leader Chuck Schumer said he wouldn't stand in the way of a Republican funding bill.
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