AstraZeneca's Enhertu granted 'breakthrough' status, Plus500 set to beat 2021 forecasts

The FTSE 100 is expected to open 20 points lower on Monday, having closed down 0.84% at 7,027.07 on Friday.

Stocks to watch

AstraZeneca said its breast cancer drug Enhertu had been granted breakthrough therapy designation (BTD) in the US. The Food and Drug Administration granted BTD based on data from a phase 3 trial presented during the European Society for Medical Oncology Congress 2021.

Online trading platform Plus500 said on Monday that it now expects 2021 revenue and core earnings to be ahead of analyst forecasts after delivering "further positive momentum" in the third quarter. In an update for the period ended 30 September, the company said the momentum was achieved despite more stable market conditions compared to recent quarters.

Newspaper round-up

Staff shortages are rippling out from the haulage, farming and hospitality sectors to almost all parts of the economy, putting “severe pressure” on medium-sized businesses across the UK, a new survey has warned. More than a quarter of the 500 firms polled said the lack of staff was putting pressure on their ability to operate at normal levels, with reduced stock – due to the resulting supply chain disruption – hurting their business. - Guardian

Trading in shares of debt-laden China Evergrande was suspended by the Hong Kong exchange on Monday after the enormous Chinese developer missed a key bond interest payment last week, its second offshore debt obligation in a week. Evergrande said trade was suspended “pending the release by the company of an announcement containing inside information about a major transaction,” sparking speculation it could sell its profitable property management unit. - Guardian

British Airways is close to reversing its decision to scrap short-haul flights from Gatwick airport, the Telegraph has learnt. Bosses at trade union Balpa will take a new pay deal to pilots after reopening talks last week in the hope that they will support sweeping changes at Britain’s second-busiest airport. - Telegraph

The paralysing impact of staffing and supply chain shortages on British businesses has been laid bare by research showing a third of mid-size firms were forced to scale back their offering to customers even before the fuel crisis hit. More than 34 percent of businesses said they had already reduced their product lines or services to manage staff or stock shortages by mid-September, according to a survey for BDO, the accountancy firm. A further 31 percent of companies said that they would have to do so “unless the situation changes within the month”. - The Times

Swiss police have seized documents from Credit Suisse relating to the collapsed finance house Greensill Capital after raiding the offices of the bank. The operation was carried out at the request of Zurich’s public prosecutor, which has launched a criminal investigation into Greensill’s activities and the management of the British investment firm’s lending schemes using the Swiss bank’s funds. - The Times

US close

Stocks closed firmer on Wall Street on Friday, with the Dow Jones Industrial Average up 1.43% at 34,326.46.

The S&P 500 added 1.15% to 4,357.04, and the Nasdaq Composite was ahead 0.82% at 14,566.70.