15th Jun 2026 07:54
(Alliance News) - AstraZeneca wins US FDA priority review for kidney drug, while Frasers Group launches a GBP166 million bid for Australian retailer Accent Group and Peel Hunt returns to profit and reinstates its dividend. Elsewhere, Sigma Healthcare withdraws from the Boots sale process.
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: called 0.9% higher at 10,570.12
GBP: higher at USD1.3441 (USD1.3422 at previous London equities close)
----------
BROKER RATINGS
----------
Exane BNP raises Halma to 'outperform' (neutral) - price target 4,550 (4,450) pence
----------
Mediobanca raises Standard Chartered to 'neutral'
----------
Citigroup cuts Softcat to 'neutral' (buy) - price target 1,950 (1,550) pence
----------
COMPANIES - FTSE 100
----------
AstraZeneca says the US Food & Drug Administration accepts and grants priority review to a supplemental biologics licence application for Ultomiris as a treatment for adults with immunoglobulin A nephropathy. The company expects an FDA decision in the fourth quarter of 2026. The application is based on a prespecified interim analysis of the phase III I CAN trial, in which Ultomiris achieves a 43.4% placebo-adjusted reduction in proteinuria at 34 weeks. AstraZeneca says Ultomiris could become the first C5 complement inhibitor approved for the rare kidney disease if authorised. The company adds that the safety profile is consistent with the medicine's known profile, with no new safety concerns identified.
----------
COMPANIES - FTSE 250
----------
Frasers Group launches an all-cash on-market takeover offer for Australia-listed Accent Group Ltd at AUD0.65 per share. Frasers, which already owns 22.9% of Accent, says the offer values the shares it does not already own at around AUD316 million, or GBP166 million. The offer is unconditional and is due to commence at the start of trading on the Australian Securities Exchange on June 30 and close on July 30, unless extended or withdrawn. Frasers says Accent shareholders can begin selling shares into the offer on-market from June 15 through its broker, with settlement in cash two trading days after sale. The Accent bid comes after on Wednesday last week, Frasers announced a voluntary public takeover offer for the remaining stake in Hugo Boss AG that it does not already own. Frasers, which holds around a 26% stake in the German fashion company, offered EUR38.00 per share, valuing the remaining stake at around EUR1.98 billion. The company said it expects the Hugo Boss transaction to complete in the second half of 2026.
----------
AEP Plantations says performance for the 5 months ended May 31 benefits from favourable palm oil prices despite lower production. Own fresh fruit bunch production falls 2.7% year-on-year to 421,900 metric tonnes, while crude palm oil production declines 1.8% to 173,200 tonnes. External FFB purchases rise 6.5% to 524,000 tonnes, helped by the inclusion of the recently acquired Pinago Group. The average crude palm oil ex-mill price slips 2.2% to USD859 per tonne, while palm kernel prices rise 8.1% to USD802 per tonne. The owner, operator and developer of palm oil plantations in Indonesia and Malaysia says construction of its ninth mill in Kalimantan remains on track for commissioning in December, while a planned initial public offering of its Kalimantan subsidiary remains targeted for the fourth quarter of 2026. The company says it remains confident of meeting market expectations this year, supported by the Pinago acquisition. CEO Kevin Wong Tack Wee says: "Whilst there is some uncertainty surrounding the recent Indonesian export framework, the impact to AEP's business is expected to be minimal. Palm oil prices are expected to remain supported by stronger domestic demand from the B50 biodiesel programme and potential supply disruptions associated with El Nino."
----------
Renewables Infrastructure Group agrees to sell its entire 17.5% stake in the 588-megawatt Beatrice offshore wind farm off Scotland for around GBP155 million after an existing co-shareholder, funds managed by Equitix Investment Management, exercises its pre-emption rights. The renewable energy investor says the proceeds will be used to reduce drawings under its revolving credit facility, which stood at around GBP240 million at March 31. The disposal, agreed at a 4% discount to the stake's December 2025 valuation, marks progress towards the company's GBP400 million capital realisation target announced in May. TRIG expects contracts to be signed in the third quarter, with completion before the end of 2026 subject to customary consents.
----------
Big Yellow Group sells its Harrow industrial estate in London for GBP38.4 million, subject to a GBP2.0 million retention pending certain conditions. The Surrey-based self-storage operator says the proceeds will fund the development of 11 new stores and one replacement store in its pipeline. The 12 projects are expected to cost GBP212 million in total and generate GBP35 million of net operating income, representing a 16.5% income return. Big Yellow says the developments will be completed within existing funding arrangements and reiterates its forecast for a net debt-to-Ebitda ratio of between 3.5 times and 4.0 times in the short to medium term, trending towards its preferred level of up to 3.5 times.
----------
OTHER COMPANIES
----------
Melbourne, Australia-based Sigma Healthcare says it has withdrawn from the sale process for Boots Group after concluding that an acquisition of the UK pharmacy chain would not meet its strategic or capital investment objectives. The move comes after the Financial Times reported last week that Sigma was among bidders for Boots alongside Canada's Weston family-backed Wittington Investments. Boots owner Sycamore Partners launched the sale process after acquiring Walgreens Boots Alliance last year, the Deerfield, Illinois-based owner of both the Walgreens pharmacy chain in the US and Boots in the UK. Sigma says it considered the deal because it could have accelerated its UK expansion through the Boots brand and store network, but adds that international growth remains a priority, highlighting its recent agreement to acquire a 75% stake in a number of Greenlight Healthcare stores to bring its Chemist Warehouse brand to the UK.
----------
Peel Hunt reports "one of the best revenue performances in the history of the group" for the financial year ended March 31, 2026, as revenue rises 57% to GBP143.5 million from GBP91.3 million and the investment bank swings to a pretax profit of GBP21.1 million from a GBP3.5 million loss. Investment Banking revenue more than doubles to a record GBP67.1 million, driven by mergers and acquisitions activity, while Execution Services revenue increases to GBP47.8 million and Research & Distribution revenue rises to GBP28.6 million. Peel Hunt proposes a final dividend of 4.9p per share, having paid no dividend a year earlier. Looking ahead, the company says markets remain supportive of high-quality transactions, although renewed inflationary pressures, uncertainty over interest rates and domestic political volatility continue to weigh on UK market confidence and deal activity. CEO Steven Fine says: "Investment Banking [achieved] its highest ever revenue. This is thanks to our exceptional people, growing recognition of our M&A advisory capability and the continued strength of our Execution Services business...We have taken decisive action on costs and are operating a leaner, more efficient platform."
----------
Union Jack Oil PLC receives a non-binding indicative offer letter from Reabold Resources on June 1 regarding a possible all-share takeover of the company. Union Jack says it is evaluating the proposal with its advisers and grants Reabold due diligence access, with discussions continuing. The company cautions there is no certainty an offer will be made or proceed, nor on what terms. Under UK takeover rules, Reabold has until July 13 to announce a firm intention to make an offer or walk away, unless an extension is granted.
----------
IQE and Tower Semiconductor Ltd sign a multi-year agreement for the supply of indium phosphide epiwafers used in optical connectivity solutions for AI-driven data centres. IQE says the wafers will support Tower's silicon photonics platforms, including technologies for 200Gb-per-lane transceivers and next-generation 400Gb-per-lane modulators. The agreement includes a minimum first-year purchase commitment from Tower and minimum volume commitments thereafter. Separately, Tower grants IQE a worldwide royalty-free licence to certain porous silicon patents, resolving all intellectual property disputes and related litigation between the two companies. IQE CEO Jutta Meier says: "This agreement reinforces IQE's position within Tier 1 global hyperscale cloud and AI infrastructure markets." President of Tower Semiconductor, Marco Racanelli, says: "The combination will enable products that can deliver both the performance and high volumes required to scale future AI infrastructure capacity."
----------
By Eva Castanedo, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Frasers GroupAnglo-Eastern PlantationsRenewables Infrastructure GroupBig YellowUnion JackReabold ResourcesIQESoftcatHalmaStandard CharteredPeel Hunt