Advertisement
UK markets open in 1 hour 2 minutes

  • NIKKEI 225

    38,377.02
    +824.86 (+2.20%)
     

  • HANG SENG

    17,186.66
    +357.73 (+2.13%)
     

  • CRUDE OIL

    83.50
    +0.14 (+0.17%)
     

  • GOLD FUTURES

    2,341.30
    -0.80 (-0.03%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • Bitcoin GBP

    53,618.43
    +183.35 (+0.34%)
     

  • CMC Crypto 200

    1,438.11
    +23.35 (+1.65%)
     

  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     

  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

BUZZ-European pharma: currency blows hot and cold for Q1 results

Reuters - UK Focus

** Big currency swings are set to overshadow Q1 results at European drugmakers, with euro reporters helped by a 20% year-on-year move in the dollar/euro rate but companies accounting in dollars or Swiss francs held back

** Swiss franc reporters Actelion (Xetra: 936767 - news) and Roche kick off the reporting season on April 21 and 22, with a stronger dollar not enough to outweigh the euro and other foreign exchange weakness

** Barclays (LSE: BARC.L - news) analysts expect FX headwinds to clip 3 pct from Roche sales and 8 pct from Actelion, while dollar reporter Novartis (April 23) is set to take around a 10 pct hit

** AstraZeneca (Swiss: AZN.SW - news) (April 24), which also reports in dollars, will see a currency hit at the sales line of about 7 pct, according to Deutsche Bank (Xetra: 514000 - news)

ADVERTISEMENT

** By contrast, FX will be a windfall for euro reporters Sanofi (NasdaqGM: GCVRZ - news) and Bayer (Milan: BAY.MI - news) , as well as Denmark's Novo Nordisk, all presenting results on April 30

** Least affected among the large-cap pharmas is likely to be Britain's GlaxoSmithKline (Hanover: GS7.HA - news) (May 6), says Deutsche (RM (LSE: RM.L - news) : ben.hirschler.thomsonreuters.com@reuters.net)