30th Jan 2026 07:54
(Alliance News) - AstraZeneca unveils an up-to-USD3.5 billion obesity-drug collaboration with CSPC, and LSEG signs a strategic cooperation pact with ICBC during UK Prime Minister Keir Starmer's visit to China, while Airtel Africa posts strong nine-month growth.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called down 0.1% at 10,167.06
GBP: lower at USD1.3766 (USD1.3797 at previous London equities close)
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BROKER RATINGS
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Deutsche Bank Research raises 3i Group price target to 4300 (4200) pence - 'buy'
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UBS cuts Antofagasta to 'neutral' - price target 4,200 pence
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COMPANIES - FTSE 100
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AstraZeneca expands its weight-management pipeline by collaborating with China's CSPC Pharmaceuticals to develop next-generation injectable therapies for obesity and type 2 diabetes. The deal gives AstraZeneca exclusive global rights outside China to CSPC's once-monthly injectable portfolio, including a clinical-ready GLP1R/GIPR agonist and three preclinical programmes. AstraZeneca pays USD1.2 billion upfront, with up to USD3.5 billion in regulatory milestones, plus further commercial and sales milestones and tiered royalties. The companies will initially progress four programmes, supported by CSPC's AI-driven peptide discovery platform and its LiquidGel monthly-dosing technology. AstraZeneca says the agreement strengthens its expanding weight-management portfolio and could improve long-term adherence through simplified dosing. CSPC retains rights in China, with AstraZeneca able to opt in to co-commercialise upon approval.
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Airtel Africa reports strong growth, with nine-month revenue to December 31 rising 28% to USD4.67 billion from USD3.34 billion, driven by expanding customer numbers, higher data usage, and continued momentum in its Airtel Money business. Operating profit climbs to USD1.53 billion from USD1.08 billion, while pretax profit more than doubles to USD1.02 billion, supported by USD99 million in derivative and FX gains versus a USD153 million loss a year earlier. Basic earnings per share jump to 13.1 cents from 4.4 cents. The group says customer growth, increased smartphone penetration and stronger data ARPU underpin the performance, with Airtel Money surpassing 50 million subscribers and annualised processed value exceeding USD210 billion. CEO Sunil Taldar says: "These results highlight the strength of our strategy, with strong operating and financial trends across the business. During the quarter, we accelerated investment to enhance coverage and data capacity while also expanding our fibre network. Coupling this investment with innovative partnerships, strengthens our customer proposition and positions us to capture the considerable growth opportunity across our markets."
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London Stock Exchange Group and Industrial & Commercial Bank of China sign a memorandum of understanding to deepen long-term strategic cooperation across global markets, data and analytics, cross-border renminbi, sustainable finance and financial innovation. The agreement broadens the partnership between the two institutions, creating a framework for expanded collaboration across capital markets, trading, clearing, data services, RMB business, and emerging technologies. Fiona Bassett, CEO of FTSE Russell, says the deal combines ICBC's scale with LSEG's global market and data capabilities to create new opportunities for issuers and investors. ICBC Vice President Zhang Weiwu says: "We look forward to further deepening our relationship with LSEG, jointly advancing financial innovation, market connectivity and cross-border RMB development, and to delivering concrete outcomes for UK-China cooperation and the broader global financial market ecosystem." The MoU is signed in Beijing during the UK prime minister's visit to China.
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COMPANIES - FTSE 250
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IG Group completes its acquisition of Independent Reserve after securing approval from the Monetary Authority of Singapore. The deal underpins IG's plan to launch a new crypto offering in the second half of 2026, targeted at customers in Singapore, Australia and the UAE. The proposition will be powered by Independent Reserve, which IG says will strengthen its crypto capabilities and support rising demand across APAC and the Middle East. Independent Reserve CEO Adrian Przelozny says: "Combining our crypto expertise with IG's scale across APAC and the Middle East accelerates our mission to bring trusted, regulated crypto trading to a wider audience."
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Avon Technologies reports a "strong" opening to the financial year, with Avon Protection delivering a record first quarter supported by sustained demand for CBRN protection products and a robust order book. Team Wendy maintains "strong order book" but posts a slower Q1, with the US government shutdown delaying product testing and deliveries and holding back federal revenue. Avon says these effects are temporary and expects higher revenue and improved operational gearing through the rest of financial 2026. Group guidance is unchanged, and Avon remains on track to meet or exceed its full-year targets. CEO Jos Sclater says: "While there is still a lot to do to improve operational efficiency and productivity in our Cleveland facility, the momentum and capability we have built in our people is clear, we are making progress. Having stabilised, strengthened and transformed Avon over the last three years, 2026 will see an increased focus on the growth stage of our strategy...We are already seeing some promising early results."
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OTHER COMPANIES
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London-based investment bank and stockbroker Peel Hunt says it continues to trade well and ahead of expectations in the second half, supported by strong performance across its Investment Banking and Execution Services franchises. The broker reports healthy M&A and equity capital markets activity among its corporate clients and now expects full-year revenue and profit to come in ahead of current market expectations.
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By Eva Castanedo, Alliance News reporter
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AstrazenecaAirtel AfricaPeel HuntLondon Stock ExchangeIGAvon ProtectionAntofagasta3i Group