snap up US biotechnology company Nuvalent for \u00a38 billion<\/a> ($10.6 billion), adding “immediate” new sales growth opportunities, as well as a trio of advanced lung cancer drugs and other assets to boost its oncology pipeline.<\/p>\nThe FTSE 100 pharma group said\u00a0the deal would contribute to revenue growth from 2027 and be accretive to core operating profit in 2027 and core earnings per share in 2029, including synergies and reprioritisation.<\/p>\n
Miels, who was promoted to CEO in January, said the acquisition “is a multi-product deal, consistent with our approach to acquire assets that have clinically proven targets and meaningfully address an efficacy and\/or tolerability gap”.<\/p>\n
FTSE 100 pre-market open <\/p>\n
Investors are not sure what to expect for London’s blue-chips on Tuesday, though there should be a boost from a further easing in the oil price after Iran and Israel agreed to stop shooting at each other for now.<\/p>\n
FTSE 100 futures are essentially flat, down less than three points, after yesterday the UK benchmark extended its winning run to a third day, though with a gain of only five points to 10,373.20.<\/p>\n
Overnight, Wall Street stocks\u00a0clawed back some ground from big losses on Friday, powered by the tech sector as the Nasdaq climbed 0.9%, the S&P 500 gained 0.3%, but the Dow Jones slipped 0.2%.<\/p>\n
Brent crude oil is down 1.3% to just over $93 a barrel this morning, while Asian stocks are mostly higher, led by Korea’s KOSPI and Japan’s Nikkei, up 7.6% and 2% respectively. Chinese and Hong Kong benchmarks are just above flat.<\/p>\n
OpenAI confidentially filed for an IPO overnight, with the ChatGPT developer reported to be looking at\u00a0a potential listing in the autumn. Following upcoming floats from\u00a0SpaceX and Anthropic.<\/p>\n
“The major question yesterday,” says market analyst Ipek Ozkardeskaya at Swissquote, “was whether the tech rout that started on Friday, on the back of stronger-than-expected US jobs data and a few other reports suggesting that new technologies could reduce the need for DRAM memory while AI safeguards could slow adoption, would mark the beginning of a deeper \u2013 and much-needed \u2013 correction, or just a blip.<\/p>\n
“The early answer is: it could be another blip.”<\/p>\n
But she notes that the latest energy market data warns that global oil reserves have now dropped to operational stress levels.<\/p>\n
“Pricing across energy and risk markets is largely ignoring the energy crisis. The risk is that the rally stops when there is no more fuel.”<\/p>\n","protected":false},"excerpt":{"rendered":"FTSE 100 Live: London blue-chips set to start in red as oil prices ease Proactive uses images sourced…\n","protected":false},"author":2,"featured_media":59030,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[26],"tags":[7077,24254,320,27],"class_list":["post-59029","post","type-post","status-publish","format-standard","has-post-thumbnail","category-london","tag-oil-prices","tag-bellway","tag-ftse-100","tag-london"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116718899622787800","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/59029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=59029"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/59029\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/59030"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=59029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=59029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=59029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"FTSE](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/06\/18fc67acf0e616090cfe9ff8caadb6ad.jpeg\")
FTSE 100 Live: London blue-chips set to start in red as oil prices ease Proactive uses images sourced from Shutterstock 7.52am: Bellway says sales softer but profits on track <\/p>\n