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  • AstraZeneca’s Wainua Falls Short in Phase III ATTR-CM Study Despite Positive Subgroup Signal (AVG)

    AstraZeneca’s Wainua Falls Short in Phase III ATTR-CM Study Despite Positive Subgroup Signal (AVG)

    AstraZeneca (LSE:AZN) and Ionis have announced that the Phase III CARDIO-TTRansform study evaluating Wainua (eplontersen) in adults with transthyretin-mediated amyloid cardiomyopathy (ATTR-CM) did not achieve its primary objective. The treatment failed to deliver a statistically significant reduction in cardiovascular deaths and recurrent cardiovascular events when used alongside standard stabiliser therapy. Wainua was generally well tolerated, with a safety profile consistent with previous clinical findings, and the companies intend to present the complete dataset at the upcoming European Society of Cardiology Congress.

    A predefined analysis identified a potential benefit among patients treated with Wainua as a standalone therapy, where the number of primary composite cardiovascular events was lower than in the placebo group, producing a nominally significant result. However, no meaningful treatment benefit was observed in participants who were already receiving stabiliser therapy when the trial began. The findings represent a setback for AstraZeneca’s plans to broaden Wainua’s use beyond its current approvals for hereditary transthyretin-mediated amyloid polyneuropathy, underlining the growing challenge of demonstrating additional clinical benefit as existing ATTR-CM therapies become more widely established.

    Despite the disappointing trial outcome, AstraZeneca continues to be supported by solid business fundamentals, including strong profitability, healthy margins and attractive returns. The company has also maintained its financial guidance while delivering encouraging pipeline progress. These strengths are partially offset by softer technical market momentum, a moderate valuation and short-term pressure on cash flow and debt as investment spending and payment obligations increase.

    More about AstraZeneca

    AstraZeneca is a global biopharmaceutical company focused on researching, developing and commercialising prescription medicines across Oncology, Rare Disease and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism and Respiratory & Immunology. Headquartered in Cambridge, UK, the company markets innovative medicines in more than 125 countries, with its Cardiovascular, Renal & Metabolism business representing an important long-term growth platform centred on protecting organs and slowing disease progression.

    The company’s Cardiovascular, Renal & Metabolism portfolio targets diseases affecting the heart, kidneys, liver and pancreas through therapies designed to address their underlying biological mechanisms. AstraZeneca aims to improve patient outcomes by enabling earlier diagnosis and delivering more effective treatments to millions of people around the world.

  • Wall Street Futures Slip as Trump Signals End of U.S.-Iran Ceasefire: Dow Jones, S&P, Nasdaq

    Wall Street Futures Slip as Trump Signals End of U.S.-Iran Ceasefire: Dow Jones, S&P, Nasdaq

    U.S. equity futures traded lower ahead of Wednesday’s opening bell, pointing to another weak session after renewed geopolitical tensions triggered fresh risk aversion across financial markets.

    Investor sentiment deteriorated after President Donald Trump said the U.S.-Iran ceasefire was “over,” raising concerns that the conflict in the Middle East could intensify once again.

    “As far as I’m concerned, it’s over,” Trump told reporters at the NATO summit in Ankara, Turkey, calling negotiations with Iran a “waste of time.”

    The announcement pushed oil prices sharply higher, with U.S. crude futures jumping by more than 4%.

    The spike in energy prices has renewed worries about inflationary pressures and the direction of interest rates ahead of the release of the minutes from the Federal Reserve’s June policy meeting.

    Trump’s comments followed an announcement from U.S. Central Command confirming that more than 80 targets in Iran had been struck during a fresh military operation launched in response to Iran’s latest attacks on commercial vessels transiting the Strait of Hormuz.

    Iran’s Revolutionary Guards claimed they targeted U.S. military sites in Bahrain and Kuwait hours after the U.S. strikes.

    Tuesday’s session saw stocks recover from early losses for a time before selling resumed in the afternoon, leaving all three major indexes in negative territory by the close.

    The Nasdaq led the declines, reflecting broad weakness in technology shares.

    The Nasdaq fell 302.47 points, or 1.2%, to 25,818.69. The S&P 500 declined 33.58 points, or 0.5%, to 7,503.85, while the Dow Jones Industrial Average lost 130.76 points, or 0.3%, to 52,925.15.

    Semiconductor companies suffered particularly heavy losses, sending the Philadelphia Semiconductor Index down 4.7%.

    The sell-off accelerated after South Korean chipmaker Samsung Electronics (USOTC:SSNHZ) dropped nearly 7%.

    Although Samsung reported second-quarter profit that was 19 times higher than a year earlier, investors remained cautious about AI-related investment levels and future demand.

    “Although Samsung’s results were stellar, investors are getting nervous about the scale of money ploughing into AI and whether it’s a bubble waiting to burst,” said Dan Coatsworth, head of markets at AJ Bell.

    Chip stocks also weakened after Reuters reported that Chinese startup DeepSeek is developing its own AI processor.

    Networking companies also posted steep declines, pulling the NYSE Arca Networking Index down 3.7%.

    Gold miners, airlines and computer hardware manufacturers also ended the session lower, while energy, pharmaceutical and healthcare shares outperformed.

    Energy stocks gained as oil prices surged, although higher crude prices contributed to broader concerns across equity markets.

    U.S. crude futures rallied following reports of projectile attacks against several commercial vessels travelling through the Strait of Hormuz.

  • European Stocks Decline as Escalating Middle East Tensions Weigh on Markets: DAX, CAC, FTSE100

    European Stocks Decline as Escalating Middle East Tensions Weigh on Markets: DAX, CAC, FTSE100

    European equities moved lower on Wednesday, adding to the previous session’s losses as renewed conflict in the Middle East heightened inflation concerns and clouded expectations for central bank interest rate policy.

    Oil prices and government bond yields jumped after U.S. President Donald Trump declared the Iran ceasefire “is over” during the NATO summit.

    Iran’s Revolutionary Guards said they targeted U.S. military sites in Bahrain and Kuwait, hours after the U.S. launched a wave of military strikes on Iran.

    Market participants are also awaiting the release of the minutes from the first Federal Reserve meeting chaired by Kevi Warsh, hoping for further clues about the central bank’s future interest rate path.

    The U.K.’s FTSE 100 Index was down 0.9%, while France’s CAC 40 Index and Germany’s DAX Index each dropped 1.7%.

    IG Group Holdings (LSE:IGTG) declined sharply after the online trading company unveiled plans to create a new Jersey-based holding company.

    Vistry (LSE:VTY) also fell heavily after the housebuilder warned of a first-half loss and revealed plans to streamline its operations.

    Student accommodation specialist Unite Group (LSE:UTG) retreated after stating that annual rental growth is now expected to come in slightly below previous guidance.

    Property developer Hammerson (LSE:HMSO) also lost ground after announcing the disposal of £69 million of non-core assets.

    Kering (EU:KER) weakened after revealing that its Italian luxury brand Gucci had signed a 50-year exclusive beauty licensing agreement with French cosmetics group L’Oreal Co (EU:OR). L’Oreal shares were down 1 percent.

    Meanwhile, energy majors BP Plc (LSE:BP.) and Shell (LSE:SHEL) advanced strongly as Brent crude climbed above $76 per barrel for the first time in two weeks amid fears of prolonged supply disruptions.

  • Tesco Shares Rise Following Report of Potential Central European Business Sale (TSCO)

    Tesco Shares Rise Following Report of Potential Central European Business Sale (TSCO)

    Tesco (LSE:TSCO) shares moved higher on Wednesday after reports suggested the supermarket group is considering the sale of its operations in Central Europe.

    Tesco Said to Be Reviewing Strategic Options

    According to a report by the Financial Times, Tesco is working with advisers to evaluate strategic options for its businesses in Hungary, the Czech Republic and Slovakia. Following the report, the retailer’s shares recovered from earlier declines to trade 0.2% higher during the session.

    If completed, the disposal would represent another step in Tesco’s strategy of streamlining its international footprint while increasing its focus on its core UK grocery business. The company currently operates supermarkets across all three Central European markets.

    Tesco has not commented publicly on the reported plans.

  • Wall Street Futures Retreat as Iran Tensions Escalate and Trump Dismisses Peace Agreement: Dow Jones, S&P, Nasdaq

    Wall Street Futures Retreat as Iran Tensions Escalate and Trump Dismisses Peace Agreement: Dow Jones, S&P, Nasdaq

    U.S. equity futures traded sharply lower on Wednesday after President Donald Trump declared the interim peace framework with Iran was no longer in effect, adding to mounting geopolitical concerns that were already weighing on investor sentiment.

    By 09:03 GMT, Dow Jones futures had dropped 680 points, or 1.3%, while S&P 500 futures were down 71 points, or 0.9%. Nasdaq 100 futures also fell 381 points, or 1.3%.

    Trump Says Ceasefire Arrangement Has Ended

    Speaking during the NATO summit in Turkey, Trump said the temporary agreement with Iran had effectively collapsed, accusing Tehran of failing to honour the deal.

    “We make a deal, and everyone’s agreed. No nuclear weapons. We make a deal. They go outside, talk to the press, they say we never even talked about it. There’s something wrong with them. They’re cuckoo. As far as I’m concerned, it’s over,” Trump said.

    The comments followed reports that Iranian forces had launched attacks against U.S. military facilities in Kuwait and Bahrain in response to American military operations and Washington’s decision to revoke a sanctions waiver on Iranian oil exports.

    Investors Monitor Oil and Federal Reserve Signals

    Crude oil prices rose sharply as renewed conflict in the Middle East increased concerns over global energy supplies, fuelling expectations that higher fuel costs could add to inflationary pressures.

    Attention is now turning to the release of the Federal Reserve’s June meeting minutes, with investors looking for clues on how policymakers are assessing inflation risks, economic resilience and the outlook for interest rates under Fed Chair Kevin Warsh.

    Earnings Season Draws Closer

    U.S. markets closed lower on Tuesday, led by weakness in technology shares after Samsung Electronics (USOTC:SSNHZ) released earnings that, despite beating expectations, failed to reassure investors about demand for AI-related products and memory chips.

    The S&P 500 lost 0.5%, the Nasdaq Composite fell 1.2%, and the Dow Jones Industrial Average declined 0.3%.

    Investors are also preparing for the start of the second-quarter earnings season, which begins later this week.

  • FTSE 100 Falls as Trump Declares Iran Ceasefire Over and Oil Prices Jump

    FTSE 100 Falls as Trump Declares Iran Ceasefire Over and Oil Prices Jump

    UK equities moved sharply lower on Wednesday after U.S. President Donald Trump declared the ceasefire with Iran “over,” escalating geopolitical tensions and triggering a broad sell-off across European markets while sending oil prices sharply higher.

    The FTSE 100 fell 1.61% by 09:14 GMT, with Germany’s DAX down 2.54% and France’s CAC 40 losing 2.23%. Sterling also reversed earlier gains to trade 0.22% lower against the U.S. dollar at $1.3324.

    Middle East Tensions Intensify

    Speaking on the sidelines of the NATO summit in Ankara, Turkey, Trump described Iran’s leadership as “sick” and said dealing with the country was “a waste of time,” following overnight U.S. strikes on more than 80 Iranian targets.

    Regional tensions escalated further as Bahrain activated missile warning sirens for a third time on Wednesday after Iran and Kuwait exchanged fire. Iran’s Revolutionary Guard said it had targeted U.S. military facilities in both countries, claiming Washington had violated a ceasefire agreement, while Kuwait’s military said its air defence systems were “confronting hostile missile and drone attacks.”

    Iranian state media also reported explosions in the port city of Bushehr, home to the country’s only civilian nuclear power plant, although no casualties were reported.

    The latest developments followed accusations that Iran was responsible for attacks on three commercial vessels transiting the Strait of Hormuz.

    “U.S. Central Command forces have begun launching a series of powerful strikes against Iran to impose heavy costs,” CENTCOM said.

    The United States also revoked a sanctions waiver that had allowed Iran to export oil, prompting Iran’s foreign ministry to describe the move as a “clear violation” of last month’s memorandum.

    Parliament Speaker Mohammad Bagher Qalibaf said, “The era of bullying and extortion is over. It leads nowhere. We don’t fold.”

    Oil Extends Rally While Gold Retreats

    Oil prices surged as investors priced in increased supply risks. Brent crude climbed 6.27% to $78.78 a barrel, while West Texas Intermediate rose 6.42% to $74.99.

    ING analysts noted that the front end of the Brent futures curve had returned to backwardation, while American Petroleum Institute data showed U.S. crude inventories declined by 400,000 barrels last week, alongside larger-than-expected draws in gasoline and distillate stocks.

    Additional pressure on energy markets came from increased Ukrainian drone attacks on Russian refineries, tightening diesel supplies and lifting the ICE gasoil crack spread above $50 a barrel. European natural gas prices also strengthened, with TTF futures rising more than 4% to above €48/MWh as storage levels remained below seasonal averages.

    Gold prices moved lower as rising oil prices and shifting market sentiment dominated trading. Gold futures fell 2.27% to $4,063.70 an ounce, while spot gold declined 1.26% to $4,054.66.

    ING analysts noted that China’s central bank extended its gold-buying programme for a 20th consecutive month in June, providing longer-term support even as short-term price movements continue to reflect expectations for U.S. Federal Reserve policy ahead of this week’s FOMC minutes.

    UK Corporate Highlights

    Unite Group (LSE:UTG) said reservations for the 2026/27 academic year had reached 86% of available beds, supported by strong direct-let demand, while maintaining its full-year earnings guidance.

    Jet2 (LSE:JET2) reported that summer passenger bookings were 7.1% higher than a year earlier, with improving booking trends supported by easing geopolitical tensions.

    IG Group (LSE:IGG) announced plans to establish a Jersey-based holding company as part of a broader strategic review designed to enhance shareholder value.

    Ofcom fined Virgin Media £28 million after finding the company repeatedly made it difficult for customers to cancel contracts between 2022 and 2024.

    Severn Trent Water (LSE:SVT) was found by Ofwat to have breached wastewater obligations, although the regulator opted not to impose a financial penalty after considering the company’s remedial actions.

    Vistry (LSE:VTY) said it expects to report a first-half pre-tax loss of around £30 million and confirmed that Chief Financial Officer Tim Lawlor will step down.

  • Market Open: Jet2 Share Buyback, Vistry Strategic Reset

    Market Open: Jet2 Share Buyback, Vistry Strategic Reset

    FTSE 100 edges higher while European markets fall. Jet2 reports record passenger growth, Vistry resets strategy and Brent crude rises.

    Market Overview

    The FTSE 100 opened marginally higher, while broader European markets weakened as the Euronext 100 slipped and Germany’s DAX fell more than one per cent. Overnight, US markets also closed lower, with the Nasdaq and S&P 500 both retreating as investors reacted to escalating tensions in the Gulf, monitored Federal Reserve policy expectations and assessed the impact of heightened geopolitical uncertainty on global risk sentiment.

    Commodity markets reflected the increase in geopolitical risk, with Brent crude rising sharply while copper, gold and natural gas also moved higher. Bitcoin edged lower against sterling. Sterling strengthened slightly against the US dollar but weakened modestly against the Swiss franc, euro, Japanese yen and Australian dollar as investors sought traditional safe-haven assets amid concerns over energy supplies and shipping through the Strait of Hormuz.

    Market Numbers

    FTSE 100: Up (0.001%), 10,666.09

    Euronext 100: Down (-0.03%), 1,912.02

    DAX: Down (-1.14%), 25,174.68

    NASDAQ: Down, 25,818.69

    S&P 500: Down, 7,503.85

    In the Headlines

    Passenger growth – Jet2 (LSE:JET2)

    Jet2 reported record passenger growth, launched a £250 million share buyback programme and expanded its presence at London Gatwick. The update highlights continued demand for leisure travel while reinforcing confidence in shareholder returns and long-term expansion plans.

    Strategic reset – Vistry (LSE:VTY)

    Vistry said first-half earnings will be affected as it prioritises cash generation through discounted sales, lower-risk developments and tighter capital allocation. The measures are intended to strengthen the balance sheet and support longer-term profitability despite near-term earnings pressure.

    Currencies (vs GBP)

    USD: Up (0.02%), $1.3347

    CHF: Down (-0.01%), Fr.1.0798

    EUR: Down (-0.01%), €1.1706

    JPY: Down (-0.02%), ¥216.7045

    AUD: Down (-0.01%), $1.9281

    Bitcoin (BTC/GBP): Down, £47,017.91

    Commodities

    Copper: Up

    Gold: Up

    Brent Crude: Up

    Natural Gas: Up

  • Jet2 Reports Record Passenger Growth, Launches £250m Share Buyback and Expands Gatwick Presence (JET2)

    Jet2 Reports Record Passenger Growth, Launches £250m Share Buyback and Expands Gatwick Presence (JET2)

    Jet2 plc (LSE:JET2) delivered preliminary results for the year ended 31 March 2026, reporting record passenger numbers and a 4% increase in revenue to £7.48bn. Operating profit remained resilient at £439.6m despite absorbing £61m in combined start-up expenses and wider industry cost pressures. The company also maintained a strong financial position, ending the year with £3.29bn in cash and deposits and net cash of around £2bn. In addition, it raised the final dividend by 2% and returned £363m to shareholders through dividends and share buybacks.

    A major strategic milestone during the year was the group’s continued expansion in southern England through its new London Gatwick operation, complementing the recently launched London Luton base. The move is intended to strengthen Jet2’s market position and broaden its national footprint. Reflecting confidence in future growth, the board also approved a new £250m share buyback programme. Meanwhile, strong booking trends for summer 2026 and improved load factors point to sustained customer demand for the group’s package holiday and flight products.

    Jet2’s latest performance highlights the resilience of its business model, supported by solid profitability, a strong balance sheet and continued investment in growth opportunities. The company’s expansion strategy, shareholder returns and attractive valuation relative to sector peers strengthen its investment case, although ongoing cost inflation and cash flow pressures remain factors for investors to monitor.

    More about Jet2 plc

    Jet2 plc is a UK leisure travel company operating both Jet2holidays, the UK’s largest provider of ATOL-protected package holidays to destinations across the Mediterranean, Canary Islands and European cities, and Jet2.com, the UK’s third-largest airline specialising in scheduled leisure flights. The group now operates from 14 UK airport bases, including its newest locations at London Luton and London Gatwick. Its integrated operating model sees more than 63% of passengers booking complete package holidays, supporting customer loyalty, operational efficiency and greater flexibility.

    During the past decade, Jet2 has generated a compound annual revenue growth rate of 19%, carried more than 130 million passengers and achieved a 10-year return on capital employed of 15.7%. The company continues to focus on its Customer First strategy, maintaining customer satisfaction levels above 90%, net promoter scores in the mid-60s and customer retention of 59%. Guided by its People, Service, Profits philosophy, Jet2 has successfully evolved from a regional airline into a leading nationwide leisure travel brand.

  • Sulnox Secures Landmark Shipping Agreement as Industry Seeks Practical Decarbonisation Solutions

    Sulnox Secures Landmark Shipping Agreement as Industry Seeks Practical Decarbonisation Solutions

    Sulnox Group (AQSE:SNOX) has reached a major commercial milestone after signing its largest agreement to date with Eastern Pacific Shipping (EPS), reinforcing growing confidence in its fuel conditioning technology as the global shipping industry searches for practical, cost-effective ways to reduce fuel consumption and emissions.

    As pressure mounts on ship operators to improve environmental performance while maintaining profitability, many are looking for solutions that can deliver immediate results without requiring expensive fleet replacements or significant capital investment. Sulnox believes its technology is well positioned to meet that demand.

    Speaking on The Watchlist, Sulnox Group CEO Ben Richardson described the agreement as the culmination of a relationship that has strengthened steadily over several years.

    “Every time Eastern Pacific Shipping has taken a close look at Sulnox, they’ve increased their commitment,” Richardson explained.

    The partnership began with an evaluation across eight vessels before expanding to a deployment on 30 ships alongside an initial strategic investment from EPS Ventures. Following more than two years of operational use, the reported results have demonstrated fuel savings of between 3% and 5%, equating to an estimated annual fleet cost reduction of around $5 million.

    Those results have now led to Sulnox’s largest commercial agreement to date, together with an increased investment from EPS Ventures, creating what Richardson describes as a strong strategic alignment between customer and company.

    Validation from a Global Shipping Leader

    Eastern Pacific Shipping is widely recognised as one of the shipping industry’s leading operators and has invested approximately $2.5 billion in decarbonisation initiatives. Its continued commitment provides valuable third-party validation for Sulnox’s technology.

    Richardson believes this endorsement carries significant weight across an industry where operators often look to proven examples before adopting new technologies.

    “We now have that marquee name in an industry that follows by example,” he said.

    Beyond the commercial agreement itself, the relationship positions EPS as both a reference customer and an introduction partner, helping open conversations with ship owners and fleet managers worldwide while supporting future product innovation through continued operational feedback.

    A Practical Route to Lower Emissions

    With tightening environmental regulations and rising pressure to reduce greenhouse gas emissions, shipping companies are increasingly seeking technologies that deliver measurable efficiency gains without disrupting operations.

    Sulnox’s fuel conditioning technology offers a practical solution by improving fuel efficiency through the fuel itself, rather than requiring major changes to engines or vessels. This approach enables operators to pursue lower fuel consumption, reduced emissions and improved operating economics simultaneously.

    After more than two years of operational validation across multiple vessel types, the expanded deployment with EPS demonstrates that practical efficiency improvements can be achieved at scale.

    Significant Growth Potential

    While the marine sector represents an important opportunity for Sulnox, Richardson noted that it accounts for only around 5% of what the company estimates to be a £40 billion annual global market opportunity across multiple industries.

    The strengthened relationship with EPS therefore represents more than a single commercial success. It provides a platform for broader international expansion and additional long-term agreements with major fleet operators.

    As confidence grows through real-world performance data and industry validation, Sulnox believes it is well placed to accelerate adoption across the global shipping market.

    An Important Commercial Milestone

    The agreement with Eastern Pacific Shipping marks a significant step forward for Sulnox, highlighting the increasing demand for technologies that can deliver both environmental and commercial benefits.

    With proven operational results, a growing strategic partnership with one of the world’s most respected shipping companies, and increasing industry recognition, Sulnox continues to strengthen its position as a provider of practical fuel efficiency solutions for the global maritime sector.

    As the shipping industry works towards a lower-carbon future, partnerships built on demonstrated performance may prove instrumental in accelerating the adoption of technologies capable of delivering meaningful emissions reductions today.

    For more information visit – https://sulnoxgroup.com/

  • Vistry Prioritises Cash Generation as Strategic Reset Weighs on First-Half Earnings (VTY)

    Vistry Prioritises Cash Generation as Strategic Reset Weighs on First-Half Earnings (VTY)

    Vistry Group (LSE:VTY) has identified 2026 as a year of transition as newly appointed chief executive Adam Daniels reshapes the business with a stronger emphasis on cash generation, lower debt and improved long-term profitability, despite the impact on near-term earnings. The group has implemented a series of measures to strengthen cash flow, including discounting slower-selling private homes, reducing exposure to higher-value properties, lowering private work in progress and scaling back its land holdings. As a result, Vistry expects to report a pre-tax loss of around £30m for the first half.

    Despite the weaker first-half performance, the company’s financial position has improved. Net debt stood at £470m, while land creditors were reduced by more than £150m. Management continues to expect the business to finish the year with net cash exceeding £100m. Backed by a £3.9bn forward order book, easing build cost inflation and additional support from affordable housing grants through the Strategic Affordable Housing Programme, Vistry anticipates a much stronger second half. The outlook is also supported by delayed partnership agreements completing on more favourable terms and profits generated from the ongoing optimisation of its land portfolio.

    Although recent operating performance and persistent share price weakness continue to weigh on sentiment, Vistry’s relatively conservative balance sheet and low price-to-earnings valuation suggest much of the current uncertainty may already be reflected in the share price.

    More about Vistry Group

    Vistry Group is a UK housebuilder specialising in the delivery of homes across multiple tenures through its partnerships-led business model. The company works closely with registered providers, local authorities and other partners to deliver affordable housing while maintaining a broad development presence across the UK. Supported by strong customer satisfaction scores and long-established industry relationships, Vistry has secured a forward order book that covers around 80% of its expected 2026 housing output.