AstraZeneca reports positive results for two cardiovascular drugs; Centamin adds two directors
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The FTSE 100 is being called to start the session seven points higher at 7,214.
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AstraZeneca reported positive trial results for two seperate cardiovascular drugs on Monday. The pharmaceutical giant said a recent trial of its 'Brilinta' drug used in conjunction reduced the relative risk of heart attack or stroke by 10% compared with aspirin alone. Meanwhile, a separate trial of diabetes drug Farxiga saw the drug demonstrate a 30% decrease in the risk of experiencing a first episode of worsening heart failure and an 18% decrease in the risk of dying from cardiovascular causes when the treatment was used in conjunction with standard care.
Centamin has made further progress in refreshing its board of directors as part of a push to reach an optimal balance between its members' core skills, experience and diversity, adding two new independent executive directors, Catherine Farrow and Marna Cloete. As part of the ongoing reshuffle, Alison Baker, one of its previous non-executive directors, announced her decision to step down. The ten person board was now composed of a non-executive chair, two executive directors and seven independent non-executive directors, with a range of skills comprising finance, legal, mining technical, capital markets and civil service.
In the press
Angry demonstrators used burning barricades to block roads in an attempt to paralyse Hong Kong’s airport yesterday after a night of violence in which police responded to fire bombs with tear gas, batons and water cannon. All transport links to and from the airport were cut off for hours, leaving travellers to arrive on foot as mass protests entered their 13th week. - The Times
UK house prices could crash by as much as a fifth if Boris Johnson pursues a no-deal Brexit, and the biggest falls would be in London and Northern Ireland, a leading accountancy firm has said. Reflecting the potentially vulnerable state of the property market as Brexit looms, KPMG said house prices would fall by between 5.4% and 7.5% across different regions next year if a new agreement with Brussels was not in place by 31 October. - The Guardian
The UK’s reliance on electricity imports has climbed to a record high amid fears that homes and businesses could face higher energy bills if the UK crashes out of Europe. The latest government figures, released just weeks before Britain’s exit from the EU, show that the UK’s net electricity imports reached their highest ever level in the first quarter of this year. - The Guardian
US close
US stocks turned in a mixed performance on Friday as the cooling of trade tensions between the US and China somewhat helped markets.
At the close, the Dow Jones Industrial Average was up 0.16% at 26,403.28 and the S&P 500 was 0.06% ahead at 2,926.46. The Nasdaq Composite closed 0.13% weaker at 7,962.88.
The Dow closed 41.03 points weaker on Friday after stocks finished higher in the previous session following China's announcement that it desired to calmly wrap up its trade war with the US, giving investor sentiment a much-needed boost.