AstraZeneca Rises on Upbeat Breast Cancer Data
AstraZeneca shares rise Monday morning after the company shared
strong data on its new breast cancer drug Enhertu at a large
medical conference over the weekend. The company reported that
75.8% of women treated with Enhertu had no disease progression one
year into their treatment. In women treated with the current
standard care, Kadcyla, 34.1% had no disease progression after a
year. Enhertu targets a type of breast cancer known as HER2
positive and the trial compared it with Kadcyla in women with
metastatic disease, meaning the cancer had spread to other parts of
the body. Citi analyst Andrew Baum estimates that Enhertu could
generate $10 billion a year by 2030. AstraZeneca shares rise 3.2%
to GBP83.21 Monday morning.
BlueRock Diamonds 1H Pretax Loss Narrowed
BlueRock Diamonds PLC said Monday that its pretax loss narrowed
for the first half as revenue increased, and that it anticipates
continued strength in the diamond market in the second half.
Metals Exploration's 1H Boosted by Higher Gold, Recoveries --
Metals Exploration PLC on Monday reported a swing to profit for
the first half of the year on higher gold production and
recoveries. Here's what the Philippines-focused gold miner
PRS REIT Exploring Raising Additional Capital for Six New Site
PRS REIT PLC said Monday that it has identified a pipeline of
six sites and that the board is exploring the most appropriate way
of raising additional capital to fund them.
Eurowag Expects to Raise EUR200 Mln in London IPO
W.A.G. payment solutions as said Monday that it expects to raise
around 200 million euros ($234.5 million) at its initial public
offering on the London Stock Exchange.
Keywords Studios Appoints Bertrand Bodson as CEO
Keywords Studios PLC said Monday that Bertrand Bodson has been
appointed as its new chief executive officer.
K3 Business Technology to Sell Sage Business to Pinnacle for
K3 Business Technology Group PLC said Monday that it would sell
the business and assets of its Sage Business to Pinnacle Computing
Ltd. for 1.68 million pounds ($2.3 million) in cash.
N4 Pharma Books Wider 1H Loss
N4 Pharma PLC said Monday that its loss widened in the first
half of the year, but that it remains "cautiously optimistic" over
the commercialization of its Nuvec delivery system for cancer
treatments and vaccines.
Victrex Appoints Vivienne Cox Chair-Designate, Larry Pentz to
Step Down at 2022 AGM
Victrex PLC said Monday that Vivienne Cox has been appointed as
a nonexecutive director effective Dec. 1 and chair-designate of the
board effective Jan. 1, and that she will succeed Larry Pentz.
Kazera's Diamond Processing Plant in South Africa to Multiply
Throughput Under New Operator
Kazera Global PLC said Monday that production at the processing
plant used for its Alexander Bay diamond project in South Africa
will increase six-fold following a joint venture with the local
Ingenta 1H Pretax Profit Rose; Plans Interim Dividend
Ingenta PLC said Monday that profit before tax in the first half
of the year rose, and announced an interim dividend for 2021.
Light Science Tech. Holdings to Float on London's Junior AIM
Light Science Tech. Holdings PLC said Monday that it plans to
float on London's junior AIM early next month.
Oriole Resources Raises GBP1.8 Mln in Placing and
Oriole Resources PLC said Monday that it has conditionally
raised 1.8 million pounds ($2.5 million) before expenses through a
placing and subscription, to support continued work and exploration
on its projects.
Prudential Fundraiser Begs Questions About FTSE Listing
Prudential drops 7% after the insurer announced plans to raise
up to 22.49 billion Hong Kong dollars ($2.89 billion) in a share
issue. The decision to raise cash purely in Hong Kong raises
questions about whether Prudential will stay listed on the FTSE 100
Index, AJ Bell says. "Activist investor Third Point, supportive of
Prudential's de-merger of its U.S. business Jackson Life, has also
pushed for the group to eliminate its London office," Bell's Russ
Mould says. "While Prudential has rebuffed this suggestion for now,
you could certainly envisage a scenario where its increasing
footprint in Africa and Asia, something the newly raised funds are
intended to augment, leads to questions about where it should have
its primary share-listing."
Semiconductor Shortage Curbs Near-Term Demand for Platinum Group
1004 GMT - Near-term demand weakness is affecting prices for
platinum group metals as the semiconductor shortage weighs on
automobile production, Berenberg says in a recent note on Anglo
American. The German bank anticipates scope for this to act as a
headwind for PGM prices in the near term. However, as production of
automobiles is expected to recover next year, this should be
supportive for PGM demand, Berenberg says. The bank reaffirms a buy
rating on Anglo American, highlighting its higher exposure to PGM
and diamonds compared to peers BHP and Rio Tinto.
Redde Northgate Shares Continue to Offer Good Value, Peel Hunt
0954 GMT - Redde Northgate looks set to continue benefiting from
strong light commercial vehicle disposal values, which remain well
ahead year-on-year given home delivery, courier, leisure and
self-employed demand, Peel Hunt says. U.K. vehicle statistics
confirm that vehicle use has largely returned to pre-pandemic
levels, and this suggests that the more operationally geared Redde
business should be recovering ahead of plan, the U.K. broker says.
This, allied to improving utilization at division FMG Repair
Services--which had a GBP6.5 million loss in fiscal 2021--suggests
that estimates for the support-services company look well
underpinned, the broker says. "We believe the shares continue to
offer good value given the likely pace of recovery, ROCE potential
and further structural growth opportunities," the broker says. Peel
Hunt rates the stock buy.
SSE Uncertainty Lingers After Response to Break-Up Talk
0927 GMT - SSE shares edge 0.1% lower after the Scottish power
generator responded to speculation about activist investor Elliott
Management pushing for a break-up of the company by saying there
had been no decision to do so. The statement might imply that SSE
may still consider splitting its renewable portfolio from its
regulated networks business, though the company says it already has
a clear strategy, AJ Bell says. "A lot of the big oil companies are
in the market for renewable-energy assets as they seek to
transition away from fossil fuels, which means there would be eager
buyers," Bell's Russ Mould says. "Activist investors are known for
their persistence, so one can be sure that Elliott won't give
UK Energy Retail Market Crisis Threatens Smaller Suppliers
0821 GMT - In the U.K., smaller electricity suppliers that don't
have adequate hedging positions now face the most serious financial
consequence as they have to be buyers of open market power and gas
at prices which well exceed the mandatory price cap, RBC Capital
Markets says. "We see heightened risk for smaller, less well-hedged
energy suppliers to face bankruptcy in the event of this crisis,
but we are mixed on if this presents a positive longer-term
opportunity for larger energy suppliers in the U.K., such as
Centrica," the bank says.
SSE Statement Won't Prevent Elliott From Campaigning for
Business Breakup, RBC Says
0813 GMT - The statement from SSE on Monday morning makes no
direct mention of shareholder Elliott Investment Management, or any
pressure or activism from shareholders, RBC Capital Markets says.
Therefore, it will do little to prevent Elliott from campaigning
for a potential split of the business, the bank's analysts say. The
energy company said Monday that there has been no decision to break
up the SSE Group, following media reports that Elliott was pushing
for a separation of SSE's renewable portfolio from its regulated
business. Shares in the FTSE 100 company fall 0.4%.
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(END) Dow Jones Newswires
September 20, 2021 06:44 ET (10:44 GMT)
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