Source: Sharecast
STOCKS TO WATCH
Drugmaker AstraZeneca's Datroway has been approved in the US for patients with previously treated advanced EGFR-mutated non-small cell lung cancer. AstraZeneca said the indication was approved under accelerated approval based on objective response rate and duration of response. However, it said continued approval may be contingent upon verification and description of clinical benefits in a confirmatory trial.
Rio Tinto announced a joint investment of $1.61bn with Hancock Prospecting to develop the Hope Downs 2 iron ore project in Western Australia's Pilbara region. Rio Tinto expects the project to produce 31.0m tonnes of ore a year.
Telecom Plus managed to grow profits in line with market expectations in the 12 months ended 31 March, despite a slip in revenues. The company, which provides subscription-style essential household services in the UK, said adjusted pre-tax profit totalled £126.3m, up 8.1% over the previous year.
NEWSPAPER ROUND-UP
Co-op staff have accused the supermarket of putting their safety and security at risk by having too few people on duty – with some saying they have been threatened while working alone on the shop floor. Despite a surge in theft, many report being left alone to pack online orders and manage self-checkouts and tills in some small stores. In larger outlets, staff say they can be left in the same position when a colleague takes a break or is managing deliveries. – Guardian
Revolut's chief executive and founder Nik Storonsky could be in line for a multibillion-dollar fortune after he reportedly negotiated an Elon Musk-style deal that hinges on him pushing the fintech company's valuation past $150.0bn. The former Lehman Brothers trader, who established Revolut in 2015, is said to have secured a lucrative deal that hinges on the company nearly tripling in value, having last been estimated at $45.0bn. – Guardian
Electric car owners should pay higher electricity bills for charging their cars at peak times, the Resolution Foundation has said. The think tank said electric vehicle owners should be charged more for plugging in their cars in the evenings to encourage them to charge overnight instead. – Telegraph
HSBC's post-pandemic downsizing of its London office means its workers will be able to find a desk only one-and-a-half days a week, leaving the lender's board with a big, and potentially costly, decision to make over the summer. Europe's largest bank, which emerged as the flag-bearer for the office downsizers during lockdown, will decide over the coming weeks whether to acquire more desk space for its teams in the UK, as well as India and China. – The Times
Amazon will invest £40.0bn in Britain over the next three years, including building four robotic fulfilment centres and refurbishing its film studios in Berkshire. The East Midlands will host one of the high-spec warehouse sites, there are two centres being planned for Northampton and Hull, which the company had already announced, and the location of the fourth warehouse has yet to be decided. – The Times
US CLOSE
US stocks rose strongly on Monday while oil prices plunged as investors shrugged off Iran's retaliatory airstrike against a US base in Qatar.
At the close, the Dow Jones Industrial Average was up 0.89% at 42,581.78, while the S&P 500 advanced 0.96% to 6,025.17 and the Nasdaq Composite saw out the session 0.94% higher at 19,630.97.
Reporting by Iain Gilbert at Sharecast.com
