Astrazeneca Share News (AZN)

LONDON (Alliance News) - Stocks in London ended mixed on Thursday amid a torrent of UK company earnings, as declines from heavyweight Royal Dutch Shell left the FTSE 100 lagging behind European counterparts. The FTSE 100 index closed flat, or 4.91 points at 7,663.17. The FTSE 250 ended up 0.1%, or 15.01 points, at 20,768.61, and the AIM All-Share closed down 0.1%, or 1.15 points, at 1,099.97.The Cboe UK 100 closed up 0.2% at 12,999.31, the Cboe UK 250 closed down 0.1% at 18,879.89, and the Cboe UK Small Companies closed flat at 12,407.33."The FTSE 100 has been unceremoniously left out of the general ex-tech rebound in global markets. Having escaped much of the trade war volatility earlier this year, the downside of this is that when the rebound comes, as it has today, the index remains unloved," said IG chief market analyst Chris Beauchamp.On the London Stock Exchange, British American Tobacco ended as the best blue chip performer up 5.1% after the Dunhill, Kent and Lucky Strike cigarette maker said interim profit, revenue and cigarette volumes all grew strongly after its acquisition of Reynolds American.BAT, which is London's fourth largest company by market capitalisation, said for the six months ended June, pretax profit rose 31% to GBP3.97 billion from GBP3.03 billion the year prior on a revenue increase of 57% to GBP11.64 billion from GBP7.42 billion the year before. BAT also said it gained approval in the US by the Food & Drug Administration for its improved carbon tipped tobacco heating product and that it expects another "good" year of growth.AstraZeneca ended in second up 4.3% after the Anglo-Swedish drugmaker was buoyed by a strong product sales rose in the first half. Product sales rose 2% at actual exchange rates to USD10.02 billion. Within its Oncology unit sales grew 42% in the half to USD2.66 billion, with Respiratory up 6% to USD2.40 billion and new Cardiovascular, Renal and Metabolism up 12% to USD1.87 billion.Within Oncology, sales of Lynparza more than doubled to USD269 million. The strong performance was geographically spread, Astra said, though it was particularly noticeable in the US.Astra kept its interim dividend flat at USD0.90 per share, reiterating its annual guidance.Smith & Nephew closed up 3.0% after the medical devices maker reported a rise in interim revenue but a fall in profit, as it progressed a programme designed to generate annualised cost savings of USD50 million. Revenue for the first half of the year rose 4.3% to USD2.44 billion from USD2.34 billion, though pretax profit slipped 11% to USD341 million from USD383 million. The revenue growth included a foreign exchange tailwind of 3%, with sales up 1% on an underlying basis.Sky closed up 0.4% after the pay-TV company it achieved "excellent" annual results, as it proposed no final dividend amid takeover talks. For the year to June 30, Sky said revenue rose up 5.2% to GBP13.58 billion from GBP12.91 billion recorded last year.At the other end of the large cap index, SSE ended as the worst performer down 4.1% after the utility stock went ex-dividend meaning new buyers no longer qualify for the latest payout. Schroders closed down 4.1% after the wealth manager said no new business was generated by the asset management unit in the first half, as inflows from institutional clients were offset by outflows in the intermediary sales channel. The wealth management unit recorded net inflows of GBP1.2 billion in the period, however. It raised its interim dividend by 3% to 35 pence per share from 34p paid a year ago.Numis was left disappointed by Schroders' stagnant half-year inflow performance and underwhelming dividend hike.Royal Dutch Shell 'B' closed down 3.9% and Shell 'A' down 3.6% after the oil major announced a share buyback worth USD25 billion, though the company missed expectations despite a sharp rise in earnings. Current cost of supplies earnings attributable to shareholders including identified items for the three months to June 30 rose sharply to USD5.23 billion from just USD1.92 billion last year, up to USD10.93 billion for the first half of 2018 overall from USD5.30 billion a year prior.However, this sharp rise was below analyst consensus, which had expected CCS earnings for the second quarter to come in at USD5.96 billion. Shell, which is London's largest company by market capitalisation, also lowered its production guidance for the third quarter in both its Upstream and Integrated Gas businesses, partly due to its current divestment programme. Compass Group closed down 2.3% after the contract caterer said it continued to trade well, though with margins slightly behind last year as it contends with a "challenging" cost and volume environment in the UK.Markets on the continent fared better than in London as the US and EU agreed to avoid an all-out trade war between the two major economies, and to work toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods.In a joint statement by US President Donald Trump and European Commission President Jean-Claude Juncker following their meeting at the White House the pair agreed to launch a new phase in the EU-US relationship - "a phase of close friendship, of strong trade relations in which both of us will win, of working better together for global security and prosperity, and of fighting jointly against terrorism."The agreement, though sparse on details, would mean Trump's threat to impose tariffs on European cars be delivered. In return, the EU plans to import more liquefied natural gas and soybeans from the US.In Paris the CAC 40 ended up 1.0%, while the DAX 30 in Frankfurt ended up 1.8%. Italy's FTSE MiB ended up 1.4%.The pound was quoted lower at USD1.3114 at the London equities close, compared to USD1.3145 at the same time on Wednesday.On the domestic political front, former foreign secretary Boris Johnson renewed his attack on Prime Minister Theresa May's Brexit proposals, urging her to abandon her plan for a free trade area with the EU that she agreed with her cabinet.Pro-Brexit Johnson, who said he resigned because he opposed the plan, slammed the proposals, which were hammered out during a cabinet meeting on Britain's exit from the EU earlier this month at Chequers, the prime minister's retreat outside London."You can't leave an organization and still be bound by its rules. But that is what the Chequers white paper means," Johnson wrote in the right-of-centre Spectator magazine, which he once edited.The euro was marginally lower at USD1.1651 at the European equities close, against USD1.1675 the prior day after dovish tones from European Central Bank President Mario Draghi. The single currency hit an intraday high of USD1.1743 in early trade amid optimism over the thawing of trade tensions between the US and EU, but these gains subsequently evaporated at the central bank's press conference. Draghi expressed optimism about the eurozone's growth outlook but said the region's economy still needed monetary stimulus and that interest rates would stay at historic lows for at least another year.Speaking at a press conference after the Frankfurt-based ECB left its benchmark refinancing rate on hold at a record low of zero and confirmed plans to cut its bond-buying scheme, Draghi said the central bank expected "solid and broad-based growth" to continue during the second half of the year.But he told reporters that the 19-member eurozone required "an ample degree of monetary accommodation" after the export boom that powered the region's economy last year had faded in recent months.With this in mind, Draghi said the ECB expected interest rates "to remain at their present levels at least through the summer of 2019."Stocks in New York were broadly lower at the London equities close amid a raft of earnings from renowned companies. The DJIA was up 0.6%, the S&P 500 index down 0.2% and the Nasdaq Composite down 0.7%.Facebook was weighing on the Nasdaq after the social media giant reported better than expected second quarter earnings but weaker than expected revenues. Facebook shares were down 19%. US cable company Comcast, which is in pole position to acquire Sky, said profit for its second quarter that climbed from last year.The NBCUniversal parent said profit amounted to USD3.22 billion, or USD0.69 per share. This compares with USD2.52 billion, or USD0.52 per share, in last year's second quarter. Excluding items, Comcast reported adjusted earnings of USD3.01 billion or USD0.65 per share for the period.Comcast shares were up 1.4%.McDonald's Corp said profit for its second quarter that rose from the same period last year.The fast food chain's bottom line came in at USD1.50 billion, or USD1.90 per share. This compares with USD1.40 billion, or USD1.70 per share, in last year's second quarter. Although, revenue for the quarter fell 11.6% to USD5.35 billion from USD6.05 billion last year.McDonald's was down 2.5%.ConocoPhillips posted profit for the second-quarter 2018, benefiting from higher oil prices and underlying cash flow expansion.The oil and gas company said earnings for the second-quarter 2018 were USD1.60 billion or USD1.39 per share, compared to a loss of USD3.40 billion or USD2.78 per share second-quarter 2017.ConocoPhillips was down 0.4%.Still to come in the US earnings calendar, coffee house chain Starbucks and e-commerce giant Amazon report after the market close. Brent oil was quoted higher at USD74.57 a barrel at the equities close from USD73.94 at the close Wednesday.Gold was quoted lower at USD1,226.19 an ounce at the London equities close against USD1,228.33 late Wednesday.The economic events calendar on Friday has Germany import and export prices at 0700 BST, Italy producer prices at 0900 BST and US GDP readings at 1330 BST. The corporate calendar on Friday has half year results from household goods firm Reckitt Benckiser, education publisher Pearson and property portal Rightmove. There are also first quarter results from telecommunications giant BT Group.