22nd Sep 2025 07:58
(Alliance News) - London's FTSE is set to open lower on Monday, following a rate hold by China's central bank and the risk of heightened geopolitical tensions following the recognition of a Palestinian state by the UK, Australia, Canada and Portugal over the weekend.
In early corporate news, AstraZeneca wins recommendations for approval in the EU for two different therapies, and Wilmington posts an interim profit decline of nearly 25% following one-off disposals the year before.
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: called down 0.2% at 9,201.47
GBP: up at USD1.3480 (USD1.3475 at previous London equities close)
----------
BROKER RATINGS
----------
Citigroup raises NatWest price target to 640 (620) pence - 'buy'
----------
Morgan Stanley cuts Tate & Lyle to 'underweight' - price target 500 pence
----------
Jefferies raises Ryanair price target to 23.50 (23.40) EUR - 'hold'
----------
COMPANIES - FTSE 100
----------
AstraZeneca says Tezspire, or tezepelumab, which was developed alongside Amgen, has been recommended for approval in the EU for the treatment of adult patients with chronic rhinosinusitis with nasal polyps. The positive opinion was granted by the Committee for Medicinal Products for Human Use of the European Medicines Agency based on results from the Waypoint phase 3 trial, in which Tezspire demonstrated a statistically significant and clinically meaningful reduction in nasal polyp severity. CRSwNP is a chronic inflammatory condition characterised by persistent inflammation and benign polyp growths within the nasal cavity that can obstruct airflow and impair an individual's sense of smell, taste and sleep. Regulatory applications for the therapy are currently under review in the US, China, Japan and several other countries, while Tezspire is also currently approved for the treatment of severe asthma in more than 60 countries. Meanwhile, AstraZeneca's Koselugo, or selumetinib, has also been recommended for approval in the EU by the CHMP for the treatment of symptomatic, inoperable plexiform neurofibromas in adult patients with neurofibromatosis type 1. The opinion was based on results from phase 3 trial Komet, in which Koselugo showed a statistically significant objective response rate of 20% compared to 5% with a placebo. NF1 is a rare, progressive, genetic condition usually diagnosed in early childhood that can impact every organ system. Up to half of people living with NF1 may develop a type of non-malignant tumour called PN that may affect the brain, spinal cord and nerves, and can become large, leading to pain, disfigurement and muscle weakness. Koselugo has recently been approved in Japan, with further regulatory reviews ongoing.
----------
Centrica begins the second tranche of an extension to its now GBP2.0 billion total share buyback programme for GBP250 million, following the completion of the first GBP250 million tranche on Friday. The second and final tranche will end no later than January 16, and will be carried out by JP Morgan Securities on behalf of the company. Centrica had announced its further GBP500 million extension to the buyback programme at its 2024 results release in February.
----------
COMPANIES - FTSE 250
----------
Vietnam Enterprise Investments says net asset value per share in USD terms has risen 0.9% during the first half of 2025, to USD9.82 at June 30 from USD9.73 at December 31, 2024. This underperforms against a 6.9% gain in USD terms on the Vietnam Index during the first half. The firm swings to pretax loss of USD5.5 million from profit of USD93.0 million a year earlier, as total income reduces 88% to USD14.5 million from USD116.7 million. This is the result of a USD6.0 million net loss in the fair value of financial assets at fair value, against a GBP102.0 million profit the year before. "We enter the second half of 2025 with Vietnam's reform momentum intact and a domestic economy expanding from a strong base," says Chair Sarah Arkle. "External conditions may remain variable, with foreign investor flows sensitive to US rates and currency dynamics. Nonetheless, the structural case for Vietnam is compelling. The policy drive to modernise institutions, the continued buildout of infrastructure, and the rising depth of local savings and capital markets should be powerful, multi-year tailwinds."
----------
OTHER COMPANIES
----------
Wilmington reports pretax profit of GBP18.4 million for the year that ended June 30, falling 24% from GBP24.2 million the year before. This is driven by subsidiary disposal gains totalling GBP1.8 million for the year, against GBP5.5 million a year prior and a one-off gain of GBP2.2 million a year earlier on the disposal of property, plant and equipment and lease modification. Revenue rises 3.3% to GBP101.5 million from GBP98.3 million, while operating expenses are up 5.8% to GBP88.7 million from GBP83.8 million. Adjusted ongoing pretax profit improves 18% to GBP28.4 million from GBP24.1 million. Wilmington declares a total dividend of 11.5 pence per share, up 1.8% on-year from 11.3p. "Our ongoing businesses have delivered another good financial performance. Our focus on portfolio management and a continuation of the strategy to expand our positions in GRC markets has resulted in further strong revenue performance, profit growth and cash generation. Both of our recent acquisitions have seen double digit growth and margins have also continued to improve," says Chief Executive Officer Mark Milner, adding: "We have had a good start to the current financial year, with revenues and profits in line with expectations and look forward to Conversia joining the group later this year." The firm agreed in August to acquire Conversia, a business operating in the Spanish GRC and regulatory compliance market, for EUR121.6 million.
----------
Elixirr International posts pretax profit of GBP15.4 million for the six months to June 30, rising 28% from GBP12.0 million the year before. Revenue grows 35% to GBP71.4 million from GBP53.0 million, while administrative expenses increase 45% to GBP7.4 million from GBP5.1 million. Adjusted earnings before interest, tax, depreciation and amortisation improve 42% to GBP21.5 million from GBP15.1 million. The firm also announces its acquisition of US-based consultancy TRC Advisory for a consideration of up to USD125 million, which will be paid through a combination of cash and the issue of shares in the company. Initial consideration totals USD57 million, with the remainder to be paid via performance-based top-up and earn-out payments. TRC is expected to report revenue for 2025 between USD35 million and USD37 million, with estimated adjusted Ebitda at USD16 million to USD17 million. The takeover is expected to be immediately earnings enhancing. "H1 25 has been an exceptional and transformative period for Elixirr, marked by continued record-breaking profitable growth," says Founder & Chief Executive Officer Stephen Newton. "Our entrepreneurial mindset and ambition to push the boundaries of what's possible has driven a series of impressive firsts for the firm. Our successful move from AIM to the Main Market of the London Stock Exchange on 1 July underscored an excellent H1 and was a particularly proud milestone and a testament to the commitment of our team and scale of our ambitions. As we broaden our market access through our growing client base and targeted acquisitions, we remain focused on helping our clients navigate their most critical challenges. With our acquisition of TRC Advisory, we are well-positioned to unlock even greater opportunities for our clients, shareholders and our team in the years ahead." The firm remains confident in delivering organic results for 2025 in line with market expectations.
----------
By Emily Parsons, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
NatwestTate & LyleRYA.LAstrazenecaWilmingtonVietnam Enterprise InvestmentsCentricaElixirr International