AstraZeneca's Ondexxya approved in Japan, 888 Holdings forms new joint venture with industry vets

London pre-open

The FTSE 100 was being called to open 27.3 points higher ahead of the bell on Tuesday after closing out the previous session 0.14% lower at 7,473.14.

Stocks to watch

Drugmaker AstraZeneca revealed on Tuesday that its Ondexxya asset had become the first approved medicine in Japan to specifically reverse the anticoagulant effect of Factor Xa inhibitors, providing "a major advance" in the treatment of patients hospitalised with life-threatening bleeding.

AstraZeneca stated the approval by the Japanese Ministry of Health, Labour and Welfare was based on positive results from its ANNEXA-4 Phase III clinical trial, which showed Ondexxya "rapidly and markedly" reversed anti-FXa activity in patients with acute major bleeding.

Online betting company 888 Holdings said has signed an agreement with five industry veterans to form a new joint venture that will operate its brands across selected African markets.

888 said on Tuesday that it had invested in a minority stake in 888AFRICA, with the option to increase this to take control, and ultimately own up to 100% of the venture in the future. No financial details were disclosed.

Polymetal International said it was considering changes to its corporate structure including "distinct ownership in various jurisdictions" where the company operates.

The Russia-focussed miner said its deliberations were at an early stage

Newspaper round-up

Books, stationery, phone chargers, toys and exam study guides are the latest items to be ferried to customers on fast-track delivery bikes via a partnership between WH Smith and Deliveroo. The high street retailer will offer 600 products for delivery in as little as 20 minutes, joining similar services offered by supermarkets, pharmacies and takeaways. - Guardian

Asda faces a legal wrangle with Waitrose after unveiling a new £45.0m cut-price grocery range with a similar name to its pricier rival's established discount brand. Waitrose, which has used the Essential Waitrose brand for about 13 years, said it had sent a legal letter to its bigger rival over its new brand name Just Essentials by Asda on Monday. - Guardian

Brussels has launched a legal challenge over the use of British parts in the UK's offshore wind farms. The European Commission submitted its complaint to the World Trade Organisation, the first such move it has made since Brexit. The UK Government asks offshore wind farm developers to say how many of the parts they are using are from Britain. The UK insists the so-called "local content" request is within the rules of the WTO. - Telegraph

Ukraine has called for a global boycott of the French owner of Decathlon after one of its bosses said it would be "unimaginable" to halt its business in the country. Dmytro Kuleba, the foreign minister in Kyiv, said that the Mulliez group, which owns the Auchan discount brand, Leroy Merlin DIY as well as Decathlon, the sports equipment chain, must pull out of Russia. The group is Russia's largest foreign employer, employing 77,500 in the country. - The Times

Europe's largest activist investor and Norway's sovereign wealth fund will vote against motions at Ericsson's annual shareholder meeting today that would help to reduce board members' responsibility over a payments scandal in Iraq. Cevian Capital, one of Ericsson's biggest investors, said that the telecoms group had failed to provide "required transparency" and that "we still lack the information necessary to make an informed judgment of what went wrong, why and who should be held responsible".- The Times

US close

Wall Street stocks ended the session higher on Monday as market participants braced for a week full of key economic reports.

At the close, the Dow Jones Industrial Average was up 0.27% at 34,955.89, while the S&P 500 was 0.71% firmer at 4,575.52 and the Nasdaq Composite saw out the session 1.31% stronger at 14,354.90.