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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca    AZN   GB0009895292

ASTRAZENECA (AZN)
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FTSE at two-month peak as sterling falters

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10/06/2017 | 06:36pm CEST
FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange

LONDON (Reuters) - British shares edged higher on Friday and held to their highest level in two months as political uncertainties linked to Theresa's May's premiership pushed the pound lower, giving a boost to dollar-earning groups such as pharma stocks.

The FTSE 100 index <.FTSE> closed 0.2 percent up at 7,522.87 points, with Britain's pound on track for its worst week in a year as the Prime Minister hit back at a plot to topple her, saying she would provide "calm leadership" to the country.

"The talk of a leadership plot against the Prime Minister is eroding the pound's value and propping up the FTSE 100," CMC Markets analyst David Madden wrote in a note to clients.

Last month sterling strength helped the FTSE 100 to post a slight decline for September, but the currency has since been losing steam and the index has posted its biggest one-week gain since December last year.

Health stocks, which source a sizeable chunk of their revenue from the United States, were among the biggest gainers. Heavyweights GlaxoSmithKline (>> GlaxoSmithKline) and AstraZeneca (>> AstraZeneca) rose by about 0.3 percent and 1 percent respectively.

British American Tobacco (>> British American Tobacco) was up 1.6 percent and Imperial Brands (>> Imperial Brands) advanced by 0.2 percent.

Shares in budget airline easyJet (>> EasyJet) dropped by 1.6 percent, the biggest FTSE 100 faller, after a price target cut from broker Credit Suisse.

The airline also posted a mixed pre-close update, with analysts pointing to pricing pressures despite easyJet reporting a record summer and saying that it expects to reach the higher end of its profit range.

"Revenue trends are improving, but pricing remains under pressure," Liberum analysts said in a note.

Credit Suisse analysts saw some supportive factors, however.

"With Monarch's failure, Air Berlin's break-up, Alitalia's administration and Ryanair capacity cuts, we expect this confluence of positives must help EZJ (easyJet) pricing," they said in a note.

Shares in building materials company CRH (>> CRH PLC) fell by 1.3 percent after its offer for U.S. Ash Grove Cement Co (>> Ash Grove Cement Co) was surpassed.

(Reporting by Kit Rees and Julien Ponthus; Editing by Keith Weir and David Goodman)

By Kit Rees and Julien Ponthus

Stocks mentioned in the article
ChangeLast1st jan.
ASH GROVE CEMENT CO -0.03% 531.1 Delayed Quote.3.16%
BRITISH AMERICAN TOBACCO 2.83% 3850 Delayed Quote.-25.39%
CRH PLC 2.25% 2543 Delayed Quote.-6.40%
EASYJET -2.65% 1580 Delayed Quote.10.86%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.-5.90%
GLAXOSMITHKLINE -3.42% 1412.2 Delayed Quote.10.56%
IMPERIAL BRANDS 3.50% 2472 Delayed Quote.-24.56%
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Financials ($)
Sales 2018 22 558 M
EBIT 2018 5 531 M
Net income 2018 1 885 M
Debt 2018 14 769 M
Yield 2018 4,01%
P/E ratio 2018 38,04
P/E ratio 2019 29,04
EV / Sales 2018 4,58x
EV / Sales 2019 4,33x
Capitalization 88 540 M
Chart ASTRAZENECA
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Technical analysis trends ASTRAZENECA
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 75,5 $
Spread / Average Target 8,3%
EPS Revisions
Managers
NameTitle
Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Dunoyer Chief Financial Officer & Executive Director
Sean Bohen Chief Medical Officer & Executive Vice President
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