The British pound weakened on Monday, falling to $1.34 after reaching $1.36 last week, as concerns grew over U.S. President Donald Trump’s recent threat to impose 30% tariffs on imports from Mexico and the European Union.
Despite the currency slide, the FTSE 100 index was modestly higher by 0.2% as of 07:58 GMT. Meanwhile, European markets showed mixed performance, with Germany’s DAX down 0.7% and France’s CAC 40 retreating 0.5%.
Ashmore Reports Solid Growth in Assets Under Management
Investment firm Ashmore Group (LSE:ASHM) announced a $1.4 billion increase in assets under management (AuM) during Q2, lifting total AuM to $47.6 billion as of June 30. The rise primarily reflected $2.2 billion in positive investment returns, partially offset by $0.8 billion in net client withdrawals.
Fixed income assets grew to $38.5 billion, up from $37.8 billion the previous quarter, while equities expanded from $6.8 billion to $7.5 billion. Positive inflows were seen in equities, stable flows in external debt and alternatives, with slight outflows noted in blended debt, local currency, and corporate debt categories.
AstraZeneca Shares Rise on Encouraging Blood Pressure Drug Trial
Shares of AstraZeneca (LSE:AZN) gained 2% following promising Phase III trial results for its experimental hypertension drug, baxdrostat. The drug achieved significant reductions in systolic blood pressure at 12 weeks across two dose levels, outperforming placebo when used alongside standard treatments.
Elixirr Reports Revenue Surge, Shares Advance
Consultancy Elixirr International (LSE:ELIX) saw its shares climb roughly 5% after reporting a 35% year-over-year increase in first-half revenues. The company’s board remains optimistic that full-year results will meet market expectations.
UK Job Market Shows Signs of Weakening
Data from the Recruitment and Employment Confederation and KPMG revealed that permanent staff hires in the UK declined at their fastest rate in 22 months during June. Available worker numbers surged to their highest since 2020, while salary growth slowed and job vacancies dropped. The retail sector faced the most pronounced challenges.
DCC Sells IT Division to Aurelius
In corporate activity, DCC (LSE:DCC) announced the sale of its information technology division to investment firm Aurelius for an enterprise value near £100 million.
GSK’s RSV Drug Receives U.S. Regulatory Review
Pharmaceutical giant GSK (LSE:GSK) confirmed that the U.S. authorities have accepted its application to extend the use of its RSV medication Arexvy for further review.
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