Astrazeneca Share News (AZN)

LONDON (Alliance News) - The following is a summary of top news stories Tuesday.
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COMPANIES
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AstraZeneca said the US Food and Drug Administration has approved Iressa (gefitinib) as a first-line treatment in patients with metastatic non-small cell lung cancer whose tumors harbor specific types of epidermal growth factor receptor gene mutations, as detected by an FDA-approved test.
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International Public Partnerships said the Bazalgette Consortium, of which it is a part, has been named preferred bidder for the GBP4.2 billion Thames Tideway Tunnel Project in London. The infrastructure investment company said it will invest GBP210 million in the project, with the rest of the risk capital to be funded by the other partners in the consortium.
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FTSE 250-listed property developer Derwent London said it has agreed revised terms on its collaboration arrangement with Crossrail on the 1 Oxford Street development in central London. The initial agreement to develop the site above the Tottenham Court Road London Underground station was signed in 2007, with Derwent surrendering its existing holdings in 2009 as the start of the construction of Crossrail began. The revised agreement outlines the terms whereby Derwent will once more own the key interest in the redevelopment, it said.
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Dairy Crest Group said its Cheese and Spreads businesses have performed in line with company expectations during the first quarter of its financial year and said its outlook for the full year remains unchanged. Dairy Crest said that it expects sales in its key brands to perform strongly as the year progresses, although it repeated that the combined performance of the Cheese and Spreads businesses will be weighted towards the second half. Dairy Crest is holding its annual general meeting later on Tuesday.
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Business information publisher Euromoney Institutional Investor said it has struck a deal to acquire a 10% stake in financial estimates platform Estimize for USD3.6 million in cash. The purchase of the stake was made as part of a USD6 million Series B funding found for Estimize. The company sources estimates from hedge fund, brokerage and independent analysts to provide consensus market expectations. As part of the investment, Euromoney's BCA Research business will partner with Estimize on building new datasets.
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Recruitment company Michael Page International said the weak euro is continuing to drag on its gross profit, even as it posted a rise for the first half of the year, sending shares in the company lower in morning trade. Michael Page said its gross profit in the first half to the end of June was up by 6.6%, though it rose by 10.8% in constant currencies. The greatest currency translation drag for the company came in its Europe, Middle East and Africa business, where its reported gross profit rose by only 1.6%, but was up by 11.8% in constant currencies in the half.
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Construction and facilities management company Carillion said it performed in line with its expectations in the first half of 2015 and said its forecasts for the full year remain unchanged. Carillion added its order book and pipeline of opportunities remain strong, despite the impact the UK General Election had on public sector contract awards made in the first half. Carillion also said it has won a GBP80 million contract with BP to build the operational base and accommodation complex for the Khazzan gas project in Oman.
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Public transport company FirstGroup said it traded in line with its expectations in the first quarter of its current financial year, with continued growth in its UK rail business, but some more challenging conditions seen in its other units. FirstGroup said it continued to see strong passenger revenue growth in its UK rail business in the quarter to the end of June, but said its UK bus arm has seen continued commercial passenger revenue growth offset by concessionary revenue, though it is making progress on its cost efficiency programme in the latter business. Elsewhere, the group said its Greyhound business in the US is still facing challenges from cheaper fuel, which is pushing people to use their own cars rather than coach services.
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MARKETS
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UK stocks are trading lower as crude oil prices take a hit after Iran and foreign ministers from six major world powers reached a comprehensive agreement to alleviate concerns over Tehran's controversial nuclear programme, lifting sanctions on the major oil producer in return.
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FTSE 100: down 0.3% at 6,715.18
FTSE 250: down 0.4% at 17,638.41
AIM ALL-SHARE: down 0.1% at 751.97
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The pound is up against the dollar, as Bank of England Governor Mark Carney provides an outlook on interest rates before the UK Treasury Select Committee.
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GBP: up at USD1.5550
EUR: up at USD1.1027

GOLD: down at USD1153.67 per ounce
OIL (Brent): down at USD56.77 a barrel

(changes since end of previous GMT day)
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ECONOMICS AND GENERAL
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Foreign ministers from six world powers and Iran reached a long-awaited agreement to prevent the Islamic republic from developing nuclear weapons following a final marathon round of talks in Vienna. "It is a decision that can open a new chapter in international relations," said EU chief diplomat Federica Mogherini, who chaired the group of the US, Britain, France, Germany, Russia and China in the talks with Iran. "This is a sign of hope for the whole world," she added.
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Greek Prime Minister Alexis Tsipras faced a showdown with members of his SYRIZA party angered by his capitulation to European demands for the most sweeping austerity package in the history of the common currency. Tsipras' coalition is in disarray over a preliminary deal brokered in Brussels that keeps the beleaguered Greek economy in the eurozone but bypasses many of the campaign pledges on which SYRIZA swept to power. A meeting of party members began Tuesday morning to assess hurdles to parliamentary ratification of the deal, as labour unions and political factions promised strikes and demonstrations in protest of renewed austerity measures. Before formal negotiations can begin on up to EUR86 billion in bailout funds, the Greek parliament must agree to legislate on a raft of measures that are even tougher than those rejected by more than 61% of Greeks in a July 5 referendum.
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UK inflation returned to zero in June, data published by the Office for National Statistics showed. Consumer prices remained flat on a yearly basis in June as expected by economists after rising 0.1% in May. The consumer price index remained unchanged on a monthly basis in contrast to a 0.2% increase in May and a 0.1% rise forecast by economists. Core inflation that excludes energy, food, alcoholic beverages and tobacco, eased marginally to 0.8% in June from 0.9% in May. Factory gate prices continued its downward trend in June. Output prices decreased 1.5% year-on-year in June following a 1.6% drop in May. Prices were expected to fall 1.4%.
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The total value of like-for-like sales in the UK was up 1.8% on year in June, the British Retail Consortium said. That topped forecasts for an increase of 0.5% following the flat reading in May. Overall sales were up 2.9% on year, the BRC said. "We saw welcome signs of growing consumer confidence, with people more willing to 'trade-up' and spend a bit more on big-ticket purchases, likely boosted by the growth in the supply of credit and other factors such as low inflation and rising real incomes," BRC Director General Helen Dickinson said.
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UK Prime Minister David Cameron is set to outline his plan to close the gender pay gap in the UK, including requiring companies in the UK to publish the difference between the average pay of their male and female employees. Cameron will say that the new National Living Wage, announced in the Summer Budget last week, will primarily help women, who tend to be in lower paid jobs and will aid his push to close the gender pay gap. All British companies with more than 250 employees will have to publish the difference in pay for their male and female employees.
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Eurozone industrial production declined unexpectedly in May largely due to a fall in energy output, data from Eurostat showed. Industrial production was down 0.4% month-on-month in May after staying flat in April. It was forecast to rise 0.2% in May. However, annual growth in industrial output accelerated to 1.6% from 0.9% a month ago. But it was slower than a 2% rise forecast by economists.
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Germany's inflation slowed as initially estimated in June due to falling energy prices, final data from Destatis showed. Inflation eased to 0.3% in June from 0.7% in May. The inflation rate as measured by the consumer price index decreased after four months of uninterrupted increase.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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