AstraZeneca's details Enhertu trial stats, Hammerson confirms shopping centre disposal talks
London pre-open
The FTSE 100 was being called to open 42.7 points higher ahead of the bell on Monday after closing out the previous session 0.32% lower at 7,513.62.
Stocks to watch
Drugmaker AstraZeneca said on Monday that high-level results from a pivotal DESTINY-Breast04 Phase III trial showed that its Enhertu drug candidate demonstrated a "statistically significant and clinically meaningful improvement" in both progression-free survival and overall surviva in patients with HER2-low unresectable and/or metastatic breast cancer, regardless of hormone receptor status, versus physician's choice of chemotherapy
AstraZeneca stated DESTINY-Breast04 met its primary endpoint, where Enhertu demonstrated "superior" PFS in previously treated patients with HR-positive HER2-low metastatic breast cancer compared to the standard-of-care chemotherapy.
Commercial property landlord Hammerson confirmed it was in talks over the possible sale of its Victoria Gate and Victoria Quarter shopping centres for £120m as it looked to strengthen its balance sheet after the Covid-pandemic.
Hammerson said it was negotiating with "entities" related to Swiss property developer Redical Holdings AG.
Newspaper round-up
Asking prices for homes coming on to the market in Britain rose by a record 2.3% in February, according to the property website Rightmove. The listing site said it was the biggest monthly increase in the 20 years it has kept records and meant the average advertised cost of a home was up by £7,785, to £348,804. Over the past 12 months, asking prices have gone up by 9.5%. - Guardian
One in five nearly-new cars are now selling at more than their brand-new equivalents, as disruption to supply chains continues to push used cars to record values. The closure of forecourts because of Covid and an ongoing shortage of semiconductors are the main forces behind a major mismatch of supply and demand, which has been worsening over the last few months. The average price of a used car on Auto Trader's marketplace has increased 29% over the last year, according to its latest figures. Average prices are up more than £4,200 in just six months. - Guardian
Almost one in 10 drivers caught out by London's weekend congestion charge have had their fines quashed, new figures reveal. More than 34,000 of the 387,174 penalty charges issued during 2021 have been overturned, according to figures released to The Daily Telegraph after a Freedom of Information request. - Telegraph
Credit Suisse has been rocked by a huge data leak, the latest scandal to engulf the Swiss bank, with fresh accusations that it served some clients who were alleged to be involved in torture and drug trafficking. A leak of accounts belonging to 30,000 of the bank's clients, totalling £80.0bn, detail funds controlled by corrupt businessmen and politicians. - Telegraph
Britain's motor dealers will together post record annual profits of up to £1.0bn in the coming financial reporting season but are refusing to return hundreds of millions of pounds in taxpayer handouts which got them through the pandemic. An investigation by The Times reveals that increasing margins from galloping car price inflation and staff cost-cutting will propel almost all large motor retailers to best-ever profits in 2021, and in some cases all-time records by a wide margin. - The Times
US close
Wall Street stocks ended the session lower on Friday, adding to losses recorded in the Dow Jones Industrial Average's worst day of the year so far.
At the close, Dow Jones Industrial Average was down 0.68% at 34,079.18, while the S&P 500 was 0.72% softer at 4,348.87 and the Nasdaq Composite saw out the session 1.23% weaker at 13,548.07