(Alliance News) - UK Prime Minister Boris Johnson is expected to ask European leaders this week to dismiss any proposals to block coronavirus vaccine exports to the UK, PA reports.
European Commission President Ursula von der Leyen has ramped up the rhetoric this weekend, saying the EU has the power to "forbid" exports, adding: "That is the message to AstraZeneca."
The warning reflects growing frustration on the continent that the EU is not getting the supplies it expected from the British-Swedish manufacturer.
Johnson is expected to contact his EU counterparts ahead of a virtual summit on Thursday where European leaders are due to consider the matter, The Financial Times reported.
A UK government source said Johnson spoke to von der Leyen, along with Dutch and Belgian prime ministers Mark Rutte and Alexander De Croo last week. He may speak to other EU leaders over the coming days, the UK government source added.
Meanwhile, AstraZeneca on Monday said its US Phase III trial of its AZD1222 vaccine - co-invented with the University of Oxford - demonstrated statistically significant vaccine efficacy of 79% at preventing symptomatic Covid-19 and 100% efficacy at preventing severe disease and hospitalisation.
AstraZeneca said interim safety and efficacy analysis was based on 32,449 participants accruing 141 symptomatic cases of Covid-19. The trial had a 2:1 randomisation of vaccine to placebo. Vaccine efficacy was consistent across ethnicity and age. Notably, in participants aged 65 years and over, vaccine efficacy was 80%, it added.
AstraZeneca said it will continue to analyse the data and prepare for the primary analysis to be submitted to the US Food & Drug Administration for Emergency Use Authorization in the coming weeks.
Mene Pangalos, executive vice President of BioPharmaceuticals R&D, said: "These results add to the growing body of evidence that shows this vaccine is well tolerated and highly effective against all severities of Covid-19 and across all age groups. We are confident this vaccine can play an important role in protecting millions of people worldwide against this lethal virus. We are preparing to submit these findings to the US Food & Drug Administration and for the rollout of millions of doses across America should the vaccine be granted US Emergency Use Authorization."
AstraZeneca shares were up 1.2% early Monday.
Here is what you need to know at the London market open:
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MARKETS
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FTSE 100: down 0.4% at 6,681.20
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Hang Seng: down 0.3% at 28,911.73
Nikkei 225: closed down 2.1% at 29,174.15
DJIA: closed down 234.33 points, 0.7%, at 32,627.97
S&P 500: closed down 0.1% at 3,913.10
Nasdaq Composite: closed up 0.8% at 13,215.24
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EUR: down at USD1.1885 (USD1.1901)
GBP: down at USD1.3855 (USD1.3874)
USD: down at JPY108.68 (JPY108.86)
GOLD: down at USD1,730.25 per ounce (USD1,739.97)
OIL (Brent): down at USD63.75 a barrel (USD64.07)
(changes since previous London equities close)
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ECONOMICS AND GENERAL
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Monday's Key Economic Events still to come
1100 GMT Ireland wholesale price index
1000 CET EU euro area balance of payments
1000 EDT US existing home sales
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BROKER RATING CHANGES
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UBS RAISES RIGHTMOVE TO 'BUY' ('NEUTRAL') - TARGET 645 (630) PENCE
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DEUTSCHE BANK CUTS IAG TO 'HOLD' (BUY) - PRICE TARGET 220 PENCE
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JPMORGAN RAISES LLOYDS BANKING TO 'OVERWEIGHT' (NEUTRAL) - PRICE TARGET 51 (42) PENCE
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COMPANIES - FTSE 100
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DIY retailer Kingfisher said it was making good progress in its 'Powered by Kingfisher' strategic plan, unveiled in June. For the financial year that ended January 31, revenue was up 7.2% at GBP12.34 billion from GBP11.51 billion a year before, while pretax profit multiplied to GBP756 million from GBP103 million. Kingfisher declared a total dividend of 8.25 pence, having skipped payouts in financial 2020 due to the Covid-19 pandemic. Looking ahead, Kingfisher said the new financial year has started positively, with first quarter like-for-like sales to March 18 up 24%, reflecting strong demand in the UK and France. "Given the profile of trading during FY20/21, we expect distinct performances in the two halves of the coming year. In H1 21/22 we expect low double-digit group LFL sales growth, supported by the delivery of our strategic objectives," the company noted.
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COMPANIES - FTSE 250
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Egyptian gold miner Centamin reported "record" revenue of USD828.7 million in 2020, up 27% from USD652.3 million in 2019, on a 26% improvement in the average gold price received. Pretax profit jumped by 82% to USD315.0 million from USD173.0 million. Centamin produced 452,320 ounces of gold from the Sukari mine in 2020, down 6% from 480,528 the year before, but the average realised gold price rose to USD1,766 per ounce from USD1,399 in 2019. All-in sustaining costs were USD1,036 per gold ounce sold, up 10% on 2019. For 2021, Centamin expects to produce 400,000 to 430,000 ounces of gold at a AISC of USD1,150 to USD1,250. Centamin declared a final dividend of 3 US cents for a 9.0 cents total payout. It expects its payout to increase by at least 1% in 2021.
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COMPANIES - MAIN MARKET AND AIM
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Deliveroo on Monday said the price for its initial public offering in London has been set in a range of between GBP3.90 and GBP4.60, implying an estimated market capitalisation on admission between GBP7.6 billion and GBP8.8 billion. The IPO of the food delivery firm will consist of up to 384.6 million shares, suggesting a value of at least GBP1.5 billion. Both new and existing shares will be offered, with the new shares expected to raise about GBP1 billion gross for the company, it said. Deliveroo said it will apply for admission of shares on the standard listing segment of the Official List of the Financial Conduct Authority and to trading on the main market of the London Stock Exchange. The company said it intends to use the net proceeds from the issue of the new shares to continue to invest in the growth opportunities available. Chief Executive Will Shu said: "We have seen a strong start to 2021 and we are only at the start of an exciting journey in a large, fast-growing online food delivery market, with a huge opportunity ahead." Deliveroo said the gross transaction value on its platform was up 121% in January and February on a year before.
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interactive investor, the UK's second largest retail investment platform, is considering floating its own shares in London, the Financial Times reported. Richard Wilson, chief executive of interactive investor, told the newspaper that ii is "looking at the various options" and that a "natural outcome for a firm like us, as a kind of a consumer-facing retail firm, would be" an initial public offering. Wilson said an IPO was not the only option being considered, the FT reported, and that it was "about timing, but that's certainly something that we will be looking at". ii has GBP50 billion in assets under management, according to the FT, and is majority owned by funds advised by private equity firm JC Flowers.
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COMPANIES - GLOBAL
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Crown Resorts said it received a takeover offer from US private equity firm Blackstone Group, and it is considering the proposal. The Australian gambling operator said the "unsolicited, non-binding and indicative proposal" from a company on behalf of funds managed and advised by Blackstone and its affiliates was for an indicative price of AUD11.85 per share in cash. Crown shares closed up 21% in Sydney on Monday at AUD11.97. Blackstone already has a 9.99% stake in Crown Resorts, having bought the shares from Melco Resorts & Entertainment Ltd for AUD8.15 per share in April 2020, Crown noted. "The Crown board has not yet formed a view on the merits of the proposal," the company said. "It will now commence a process to assess the proposal, having regard to the value and terms of the proposal and other considerations." It noted the Blackstone has made its proposal subject to unanimous agreement by the Crown board. Blackstone also would need regulatory approval in Australia to run casinos.
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Monday's Shareholder Meetings
Gresham House Renewable Energy VCT 1 PLC - AGM
Gresham House Renewable Energy VCT 2 PLC - AGM
Pacific Horizon Investment Trust PLC - GM
Highway Capital PLC - AGM
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By Tom Waite; thomaslwaite@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
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