UK stock preview: Morrisons, Ryanair, AstraZeneca
Here are three LSE mainboard stocks to watch this week.
- Morrisons share price fell 3.77% on Monday morning (04 October 2021), following reports that it will be acquired by a US private equity group
- Ryanair share price rose 2.4% despite a dip in passenger traffic in September 2021
- AstraZeneca share price inches up 1.2% in early trading, after one of its regimens was granted the Breakthrough Therapy Designation
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Morrisons (LON: MRW)
Morrisons, the UK’s fourth largest supermarket chain, is poised to be acquired by US private equity group Clayton, Dubilier & Rice (CD&R).
It was reported that CD&R has won a bid auction for the supermarket group with a £7 billion (US$9.5 billion) offer.
CD&R had offered 287p per ordinary share, versus rival Fortress’ 286p per share bid.
Morrisons board of directors will now present the offer to shareholders at a meeting scheduled for 19 October.
If the bid is approved by shareholders, CD&R will officially take over Morrisons by November.
Ryanair (LON: RYA)
Ryanair said its traffic hit 10.6 million passengers in September 2021 on the back of 69,500 flights, which more than doubled September 2020’s 5.2 million passengers.
This equates to a load factor of 81% versus a load factor of 71% of a year ago.
However, this is slightly down from August 2021’s load factor of 82% and traffic of 11.1 million passengers.
AstraZeneca (LON: AZN)
AstraZeneca’s Enhertu (trastuzumab deruxtecan) has been granted the Breakthrough Therapy Designation (BTD) the US Food and Drug Administration (FDA) for the treatment of adult patients with unresectable or metastatic HER2-positive breast.
Enhertu is a HER2-directed antibody drug conjugate (ADC) jointly developed by AstraZeneca and Daiichi Sankyo Company.
The regimen has been approved for adult patients who have received two or more prior anti-HER2-based regimens in the metastatic setting in the US, Japan, the EU and several other countries, based on the results from the DESTINY-Breast01 trial.
Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca, said: ‘This is an important step in bringing Enhertu as a potential new option in earlier lines of treatment for HER2-positive metastatic breast cancer, given the urgent need to improve outcomes.’
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Kelvin Ong | Financial writer, Singapore
04 October 2021
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