Post by : Badri Ariffin

AstraZeneca's stock soared to unprecedented levels on Tuesday, surpassing its peak from September 2024 and reinforcing its status as the largest company on the UK stock market by value. The surge in investor interest followed a series of robust earnings reports and a crucial U.S. policy announcement.

As of 0832 GMT, shares jumped 2.5%, reaching 134.6 pounds, which boosts the company's valuation to nearly 210 billion pounds ($282 billion). This increase coincided with a broader uptick in the FTSE index, which rose 1.1% on the back of stronger UK labor market data and speculation regarding a possible interest rate cut by the Bank of England next month.

The recent upward trend for AstraZeneca was fueled by a quarterly earnings report that exceeded expectations and a U.S. drug pricing agreement announced in October, alleviating concerns over potential regulatory hurdles. The U.S. market remains crucial for AstraZeneca, representing over 40% of its total sales.

Analysts emphasize that the combination of strong financial performance and decreased regulatory risk has bolstered investor confidence, leading to significant upward pressure on the stock. This remarkable increase also signals growing optimism in the UK pharmaceutical industry, driven by a rising global demand for innovative therapies.

#Global News #Share Market