Trainline reports jump in sales, AstraZeneca acquires Amolyt Pharma
London open
The FTSE 100 is expected to open two points higher on Thursday, having closed up 0.31% on Wednesday at 7,772.17.
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Online ticketing platform Trainline reported a strong jump in sales as fewer strikes in the UK and competition for passengers in Italy and Spain boosted revenues. Total group sales for the year to February 29 rose 22% to £5.3bn, with international ticketing up 14% to £1bn and the UK surging 23% to £3.5bn. "Our growth was fastest in Spanish domestic travel, which doubled year on year as we position ourselves as the aggregator of choice. Trainline's market share continues to rise on key routes like Madrid - Barcelona, which is now our third most popular route across all countries, including the UK,” said chief executive Jody Ford.
Biopharma giant AstraZeneca has announced the acquisition of French biotech firm Amolyt Pharma for up to $1.05bn to beef up its late-stage rare disease pipeline. Amolyt, which is a specialist in the treatment of rare endocrine disease, will be purchased for $800m upfront on completion of the deal, plus an additional contingent payment of $250m payable upon achievement of a specified regulatory milestone.
Halma reported continued strong growth in its second half in a trading update on Thursday, with its performance benefiting from portfolio diversity and operational agility. The FTSE 100 firm left its guidance for adjusted profit unchanged and in line with analyst consensus. It described strong constant currency revenue growth, particularly in the environmental and analysis sector driven by the photonics segment, alongside modest growth in the UK and improved performance in the Asia-Pacific region.
Newspaper round-up
Direct trains could next year connect Wrexham to London, with a new service capitalising on the town’s Hollywood-meets-football mini-boom. The train manufacturer Alstom is bidding to set up the Wrexham, Shropshire and Midlands Railway with a promise of cheaper, more comfortable trains straight to London. – Guardian
Green MP Caroline Lucas has accused the government of stoking a culture war on climate issues by calling for more investment in new gas-fired power plants before a general election. Lucas used an urgent question in the House of Commons to challenge the energy minister, Graham Stuart, on the plans set out on Wednesday, which could see a string of new plants built in the coming years despite the government’s commitment to phase out fossil fuels. – Guardian
Britain’s biggest investor is demanding that Nestlé sells fewer chocolate bars amid worries over the public health impact of the Swiss food giant’s products. Legal & General Investment Management (LGIM), which looks after around £1.2 trillion of saver’s money, is seeking to toughen up health targets set by the Swiss food giant as part of an ethical compliance drive. – Telegraph
Halifax is imposing a new 70-year age limit on thousands of homebuyers as banks seek to rein in risky mortgage lending. The lender is reducing the maximum age at which it will allow many borrowers to say they intend to retire from 75 to 70 – meaning that in many cases it will not lend to someone older than this limit. – Telegraph
An activist investor has called on Glencore to abandon the demerger of its coal business and to switch its primary listing to Sydney from London, which it said was “no longer the home of mining”. Tribeca Investment Partners, an Australian hedge fund, wrote to the board of the Swiss commodities powerhouse this week putting forward a list of proposals designed to help to revive the share price, which it said had trailed behind rivals since Glencore’s stock market flotation in 2011. – The Times
US close
Wall Street finished in a mixed state on Wednesday, as the S&P 500 retreated from its previous record close.
The Dow Jones Industrial Average edged up 0.1% to reach 39,043.32 points.
However, the S&P 500 declined 0.19% to settle at 5,165.31 points, while the Nasdaq Composite saw a dip of 0.54% to stand at 16,177.77 points.
In currency markets, the dollar was last down 0.01% on sterling to trade at 78.13p, while it slipped 0.02% against the euro to 91.32 euro cents.
The greenback also recorded a slight decrease on the yen, retreating 0.06% to change hands at JPY 147.67.