Source: Sharecast
STOCKS TO WATCH
Venture capital firm Molten Ventures said on Monday that it expects to report a sharp rise in net asset value and gross portfolio value, supported by strong portfolio management and its ongoing share buyback programme. The tech investment specialist forecast GPV and NAV growth of 11% and 13% ,respectively.
Drugmaker AstraZeneca said on Monday that its systemic lupus erythematosus treatment Saphnelo (anifrolumab) has received US Food and Drug Administration approval for self‑administration via a once‑weekly autoinjector, the Saphnelo Pen. AstraZeneca said the FDA approval, for adults also receiving standard therapy, follows its recent Phase III TULIP‑SC trial, which showed that subcutaneous dosing delivered a "statistically significant and clinically meaningful" reduction in disease activity versus placebo in patients with moderate-to-severe SLE on background treatment.
A US court has granted a motion to dismiss filed by biotech AnaptysBio against a claim launched by GSK's oncology unit, it was confirmed on Monday. GSK-owned Tesaro initiated litigation against AnaptysBio in November, claiming it was in breach of its agreement regarding cancer treatment Jemperli. AnaptysBio filed the partial motion to dismiss in January. However, GSK said that the ruling by the Delaware Chancery Court does not address the merits of the principal contractual dispute between the parties, and that it had no impact on Tesaro's remaining claim against AnaptysBio for declaratory judgement.
NEWSPAPER ROUND-UP
UK business leaders have called on the government to build an EU-style "trade bazooka" to protect Britain's economic interests in response to the latest tariff threats from Donald Trump. As transatlantic tensions rise, the British Chambers of Commerce said the UK's "inadequate economic security" was putting growth and jobs at risk. The lobby group, which represents thousands of firms, urged Keir Starmer to take the lead in protecting Britain from external crises, saying there had been "years of neglect by successive governments". – Guardian
Keir Starmer will attempt to call time on a "disgraceful" shoplifting epidemic afflicting the UK's retailers, as Greggs became the latest to take action to deter thieves. The bakery chain has axed self-service display cabinets in stores that have been most severely hit by shoplifters. – Guardian
For a company that was only recently viewed as a scrappy underdog in the AI arms race, Anthropic has quickly become a victim of its own success. The explosive growth in demand for AI coding bots has forced the $380bn (£280bn) Silicon Valley lab to start rationing access to its most popular tools, leaving paying customers fuming. "Claude Code has become unusable," moaned one user earlier this month. "I tried to stay. I couldn't. Just cancelled," said another. – Telegraph
John Lewis has told staff they must be in the office more often as it races to keep up with rivals, which have ditched remote working. In a memo to head office staff, the retailer said it expected them to be working "more in person than not", either in the office or out with suppliers and customers. – Telegraph
The would-be owners of Thames Water have rebutted claims from a leading Oxford don that the company needs to be put into administration. Dieter Helm, the outspoken free market academic economist, has joined the chorus of those demanding that because of the long delay in rescuing Thames, the time has come for Britain's largest water supplier to be put under a government special administration regime. – The Times
More than 300 restaurants, pubs and bars have closed their doors for the last time since the start of this year as operators buckled from the "heavy toll" of higher labour and energy costs combined with fragile consumer confidence. New analysis from CGA by NIQ, the market research firm, found the number of licensed premises fell to 98,609 at the end of March, a net 305 fewer than in December, equating to more than three closures a day. – The Times
US CLOSE
Major indices delivered a mixed performance on Friday as the Dow Jones traded lower, but S&P 500 and Nasdaq raced ahead to more record highs amid rising optimism about US-Iran peace talks, while the tech sector was given a boost as shares in chip giant Intel jumped by almost a quarter.
At the close, the Dow Jones Industrial Average was down 0.16% at 49,230.71, while the S&P 500 addded 0.80% to 7,165.08, and the Nasdaq Composite saw out the session 1.63% firmer at 24,836.60.
Reporting by Iain Gilbert at Sharecast.com