Syncona's Achilles sells tech assets to AstraZeneca, Gemfields reports more Mozambique unrest

Stocks to watch

Life science investor Syncona said its investment Achilles Therapeutics has sold technology assets to AstraZeneca for $12m (£9.58m). The deal involves transferring of the commercial license of data and samples from Achilles’ TRACERx non-small cell lung cancer study to AstraZeneca, including samples and data.

Gemfields reported further incidents of unrest near its Montepuez Ruby Mining operation in Mozambique on Friday, where groups linked to illegal mining had attempted to invade company facilities and set fire to community structures. The AIM-traded firm said two individuals were killed during a confrontation with security forces on 24 December, prompting the temporary relocation of some personnel, though a phased return had begun with plans to resume normal operations by the end of the year. A vocational training center and farming supplies in a nearby village were also looted, with Gemfields saying it was “closely monitoring” the situation.

Maritime tech group SRT Marine Systems has said it has kicked off a new maritime domain awareness contract worth $9m over a 10-year period. The contract, with an existing Middle East coastguard customer, was first announced in November but has now been signed and started. “We are delighted to have commenced this system upgrade with this long-standing and highly valued Coast Guard customer and look forward to many more years of business with them as they grow and enhance their national maritime surveillance and intelligence capabilities,” said chief executive Simon Tucker.

Newspaper round-up

The UK steel industry has called for the government to promise to buy British as it prepares for a major expansion of offshore wind generation. Wind generation has become a key part of the UK’s energy system, contributing 29% of generated electricity in 2023. However, despite the huge increase in the number of turbines, only 2% of the steel used in British offshore wind projects over the past five years was made in the UK, according to a study by the consultants Lumen Energy & Environment, commissioned by UK Steel, a lobby group. – Guardian

Labour ministers have backed plans for a £15m fund to redistribute food from farms that otherwise go to waste, particularly around Christmas. Grants starting from £20,000 will be handed to the not-for-profit food redistribution sector in England to repackage farm food and deliver it to homeless shelters, food banks and charities. – Guardian

Journalists at the Daily Mirror have been offered bonuses to write sponsored articles promoting household products as the newspaper’s publisher for new sources of revenue. Staff at Reach, which also owns the Express and regional titles including the Manchester Evening News and Liverpool Echo, have been offered an extra £60 if they create “affiliate content” that generates more than £600 in revenues. – Telegraph

A campaign to save a popular “mild” cask beer from Carlsberg’s axe has been backed by thousands of drinkers – including former Slade rocker Noddy Holder. Mr Holder, best known for Slade’s 1973 hit “Merry Xmas Everybody”, has signed a petition urging Carlsberg to keep brewing barrels of Banks’s Mild, which was first served 150 years ago. Banks’s Mild is among a slate of beers being withdrawn by the Danish brewer next week. – Telegraph

International investors increased their holdings of UK government bonds before the budget as analysts forecast that the pound and shares would be the winners of the country’s political stability and closer relations with the European Union in the coming years. Foreign bondholders ramped up their gilt holdings by £55 billion in October — a rare vote of confidence for the new government, which has been widely criticised by business groups for tax rises. – The Times

US close

US stocks closed with little movement Thursday as investors returned from the Christmas holiday, grappling with muted volumes and limited economic data.

The Dow Jones Industrial Average edged up 0.07% to close at 43,325.80, marking the only major index to post gains.

Meanwhile, the S&P 500 dipped slightly, down 0.04% to 6,037.59, while the Nasdaq Composite slipped 0.05% to close at 20,020.36.

In economic news, the number of Americans filing new unemployment claims declined last week, signalling continued resilience in the labour market even as hiring momentum cooled.

Initial claims for state unemployment benefits dropped by 1,000 to a seasonally adjusted 219,000 for the week ended 21 December, according to the Labor Department.