FTSE 100 Rises as AstraZeneca Gains on Positive Trial Result
15 August 2022 - 7:21PM
Dow Jones News
FTSE 100 Rises as AstraZeneca Gains on Positive Trial Result
0746 GMT - The FTSE 100 rises 0.3% to 7510 points as
pharmaceutical stocks rally after AstraZeneca reported positive
trial results of its cancer treatment Enhertu. AstraZeneca gains
2.2% after saying Enhertu significantly delayed metastatic breast
cancer progression in a Phase 3 trial. "The news had a positive
read across to the rest of the sector in underlining the potential
strides which the major pharmaceutical companies are now making,
while an oil price which remains ahead by 25% in the year to date
gave some further support to the oil majors," Interactive Investor
analyst Richard Hunter writes. Phoenix Group falls 0.5% after the
life insurer posted lower first-half profits. Mining shares drop on
lower metal prices after weaker-than-expected Chinese economic
data. (renae.dyer@wsj.com)
Companies News:
Treatt Lowers FY 2022 Pretax Profit Guidance Amid Inflation,
Weaker US Consumer Sentiment
Treatt PLC said Monday that it is lowering its adjusted pretax
profit guidance for fiscal 2022 after being hurt by a number of
factors including lower consumer confidence in the U.S. and cost
inflation.
---
Echo Energy Raises GBP600,000 via Share Placing
Echo Energy PLC said Monday that it has now raised 600,000
pounds ($728,280) via the share placing announced on Friday.
---
Phoenix Group on Track to Achieve Top End of 2022
Cash-Generation Target
Phoenix Group Holdings PLC said Monday that first-half operating
profit remained at a similar level on a year-on-year basis and that
it is on track to meet the top end of its full-year cash generation
target.
---
Safestay Swung to 2021 Pretax Profit After Lifting of Covid-19
Restrictions
Safestay PLC said Monday that it swung to a pretax profit for
2021 after Covid-19-related restrictions were lifted.
---
TP Group 2021 Pretax Loss Widened on Higher Costs; Refinancing
Process to Start in 2H
TP Group PLC said Monday that its 2021 pretax loss widened on
higher costs, and that the board will start a group refinancing
process in the second half of 2022 and will consider both debt and
equity options.
---
Inspiration Healthcare 1H Performance Robust on Strong Order
Book
Inspiration Healthcare Group PLC said in an update Monday that
performance has remained robust and consistent with management
expectations for the six months ended July 31.
---
Eckoh PLC 1Q Orders Were Substantially Higher on Year
Eckoh PLC said Monday that orders for the first quarter of the
current fiscal year were substantially higher than the same period
a year earlier and that it expects to report a significantly higher
level for the half year.
---
Gusbourne 1H Revenue More Than Doubled as Sales Recovered From
Pandemic
Gusbourne PLC said Monday that revenue for the first six months
of 2022 more than doubled, driven by a recovery in sales from
pandemic effects.
---
Seeing Machines Sees in-Line FY 2022 Revenue on Accelerated
Growth Momentum
Seeing Machines Ltd. said in a performance update Monday that it
foresees reporting revenue in line with expectations for fiscal
2022 after growth momentum accelerated.
Market Talk:
Phoenix Looks Confident to Achieve 2022's Dividend Increase
0758 GMT - Phoenix Group Holdings seems to be confident to
achieve its long-term cash generation target--in order to provide
organic dividend growth in 2022--after reporting a
better-than-expected 1H cash generation, analysts at RBC Capital
Markets say in a research note. The European life insurer benefited
from an improvement on the sector's fundamentals while factors like
macroeconomic backdrop, regulations and coronavirus-related impacts
seemed to be swinging in the sector's favor, they say. "Phoenix
currently trades on an attractive 2022 dividend yield of 8.0%, with
the dividend payment secured for the next 20 years," the analysts
add. (michael.susin@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
August 15, 2022 05:06 ET (09:06 GMT)
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