Source: Sharecast
The FTSE 100 was called to open around 25 points higher.
In corporate news, NatWest Group posted operating profits of £3bn for the first half of its fiscal year, for a return on tangible equity of 16.4%.
Its net interest margin increased by five basis points to 2.10% over the three months to June in comparison to the first quarter. Levels of default remained stable and at low levels across the portfolio.
Management said that it now saw full-year income excluding notable items of approximately £14bn and expected the lender's return on tangible equity would increase to over 14%. The interim dividend payout was hiked by 9% to 6p.
IMI reported 5% organic sales growth and a 6% increase in organic adjusted operating profit in its interim results, with a 10 basis point improvement in adjusted operating margin compared to the first half of 2023.
The FTSE 100 engineer said statutory operating profit rose 19% to £177m, and statutory profit before tax increased 17% to £163m, aided by a £4m benefit from its complexity reduction programme. It announced a 10% increase in the interim dividend to 10p, as well as a £100m share buyback.
AstraZeneca said that the FDA's oncologic drugs advisory committee had reviewed ‘Imfinzi’, or durvalumab, for treating resectable non-small cell lung cancer, acknowledging its effectiveness in increasing event-free survival based on a phase three trial.
The pharmaceuticals giant said the trial demonstrated that Imfinzi, combined with neoadjuvant chemotherapy before surgery and as adjuvant monotherapy after surgery, significantly reduced the risk of recurrence, progression, or death compared to chemotherapy alone, with a tolerable safety profile.
It said the FDA would consider the committee's positive feedback while reviewing the supplemental biologics licence application (sBLA) for the indication.
