UK & European stocks were higher starting the week on a positive footing after Donald Trump’s election victory and interest rate cuts from major central banks.
Asia-Pacific markets fell after China’s latest stimulus measures underwhelmed and its October inflation numbers came in lower than expected, prompting concerns over the recovery in the world’s second-largest economy.
Gold prices fell for a second straight session, while investors prepared for U.S. economic data and comments from Federal Reserve officials this week for more clarity on the future direction of U.S. interest rates.
Oil prices extended declines as the threat of a supply disruption from a U.S. storm eased and after China’s stimulus plan disappointed investors seeking fuel demand growth in the world’s No. 2 oil consumer.
In corporate news, Syncona announced that its portfolio company Autolus Therapeutics has received US FDA approval for ‘Aucatzyl’, a CAR T-cell therapy for adult patients with relapsed or refractory B-cell precursor acute lymphoblastic leukaemia.
The FTSE 250 company said the approval followed results from the ‘FELIX’ clinical trial, which showed a strong safety profile and notable efficacy, with 63% of patients achieving complete remission. It said Aucatzyl, manufactured in the UK, is the first CAR T-cell therapy in the category to be approved without a risk evaluation and mitigation strategy programme.
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