The FTSE 100 is called to open flat this morning given the lack of direction from Wall Street and in Asia overnight. The economic diary today sees the release of domestic unemployment figures, US inflation numbers and the preliminary reading of the University of Michigan consumer sentiment index together with day 2 of the G20 and the first day of IMF meetings with Greece likely to be in focus given its ongoing debt situation. Commodity prices are mixed and on the foreign exchanges, the major currencies are range bound ahead of these data releases and the G20 and IMF meetings. It is a quiet end to the week for major corporate news.
Company Announcements
AstraZeneca
It has announced that the US Food and Drug Administration has granted orphan drug designation for the MEK inhibitor selumetinib for the treatment of uveal melanoma. The latter is a rare disease in which cancer cells form in the tissues of the eye. It noted that this designation was an important regulatory advancement as it furthers its development plans. Data from a phase III study evaluating selumetinib in combination with chemotherapy in patients with first line metastatic uveal melanoma is expected to be available later this year.
Contributed by SVS Securities
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