Friday is often a day of slim pickings when it comes to corporate news and today looks like it’s no exception. easyHotels has however reported that it is to open a hotel in Milton Keynes, in a move which will add another 124 bedrooms to the chain’s portfolio by the summer of 2019.
AstraZeneca has announced the latest set of drug trial results this morning. It’s a new treatment for chronic obstructive pulmonary disease and the outcomes certainly look favourable. However testing – then gaining approval – for new drugs is an incredibly drawn out process. Any cheer for these numbers should be met with a degree of caution.
It’s worth bearing in mind that at least some of the upside seen in the UK stock market has come as a result of the falling value of the pound. Sterling denominated assets have been looking increasingly attractive to overseas buyers, but with that situation starting to change, some weakness in stocks is to be expected. Around a year ago, the pound was buying just 1.2 US dollars, but now that’s up around 16% at 1.4 US dollars.
