Intertek agrees acquisition of TESIS, AstraZeneca's Calquence gets fresh Europe approval
By Josh White
Date: Tuesday 06 May 2025
(Sharecast News) - London open
The FTSE 100 is expected to open flat on Tuesday, having closed up 1.17% before the long weekend on Friday at 8,596.35.
Stocks to watch
Intertek said it had agreed to acquire Brazil-based TESIS, a provider of building products testing and assurance services, for an undisclosed sum. The company on Tuesday said the deal represented an "attractive opportunity" to expand its building & construction quality assurance business into Brazil's construction industry, which is valued at $120bn and is forecast to grow at 4.8% per annum to 2033.
AstraZeneca announced on Tuesday that the European Commission has approved 'Calquence', or acalabrutinib, combined with bendamustine and rituximab, for previously untreated mantle cell lymphoma (MCL) in adults ineligible for stem cell transplant. The FTSE 100 pharmaceuticals giant said the approval was based on phase three results from the 'ECHO' trial showing the combination reduced the risk of disease progression or death by 27% compared to chemoimmunotherapy alone, extending median progression-free survival to 66.4 months. Calquence is now the first and only BTK inhibitor approved in the EU for first-line treatment of MCL.
Newspaper round-up
The US treasury secretary attempted to soothe Wall Street on Monday as President Trump rattled markets with a plan to impose 100 per cent tariffs on foreign-made films and a prominent investor said the US brand had been damaged. "It has never been a better time to invest in America," Scott Bessent told finance leaders gathered at the annual Milken Institute global conference in Beverly Hills, Los Angeles. - The Times
Half of the profit warnings issued last month by UK-listed firms cited tariffs and the impact of global trade disruption. Analysis from accountancy giant EY shows there were 26 warnings in April, up from 21 in the same month last year. Of the 26, 13 cited tariffs. On average, the profit warnings - when companies disclose to investors that they expect profits to fall short of expectations - caused the affected company's share price to fall by 19 per cent on the day. In the first quarter of the year, 62 profit warnings were issued. - Financial Mail
Britain is secretly preparing for a direct military attack by Russia amid fears that it is not ready for war. Officials have been asked to update 20-year-old contingency plans that would put the country on a war footing after threats of attack by the Kremlin. A classified dossier will set out how the Government would respond to a declaration of war, including bunkers to protect the Cabinet and the Royal family, public service broadcasts and the stockpiling of resources. - Daily Telegraph
The aviation industry is "failing dramatically" in its efforts to tackle its role in the climate crisis, according to a newly formed group of aviation professionals. They say they are torn between their passion for flying and their concern for the planet and are calling for a fundamental transition of the industry, including controlling flight numbers. - Guardian
US close
Major indices closed lower on Monday as potential trade talks were firmly in focus throughout the session.
At the close, the Dow Jones Industrial Average was down 0.24% at 41,218.83, while the S&P 500 lost 0.64% to 5,650.55 and the Nasdaq Composite saw out the session 0.74% softer at 17,844.24.
The Dow closed 98.60 points lower on Monday, taking a small bite out of gains recorded in the previous session.
Heightened hopes that the US would be able to strike a trade deal with major trading partners were in focus on Monday after Beijing stated it was currently evaluating the possibility of starting negotiations with the Trump Administration.
Trump, however, later said he has no plans to talk to Chinese President Xi Jinping.
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