• AstraZeneca share price rose slightly on Monday morning (11 October), after it reported positive results from a Covid-19 treatment trial
• ASOS share price plunges nearly 15% after it announced that Nick Beighton will step down as CEO
• Anglo American share price rallies 4% after it bought back 125,000 ordinary shares
• Keen to take advantage of rising and falling share prices? Open an account with us to long or short these stocks now.

AstraZeneca (LON: AZN)

Biotechnology company AstraZeneca reported positive high-level results from its TACKLE Phase III Covid-19 treatment trial.

The trial showed that AstraZeneca's AZD7442, a long-acting antibody (LAAB) combination, achieved a statistically significant reduction in severe Covid-19 or death compared to placebo in non-hospitalised patients with mild-to-moderate symptomatic Covid-19.

A total of 90% of participants enrolled were from populations at high risk of progression to severe Covid-19, including those with co-morbidities.

The trial was said to have ‘met the primary endpoint, with a dose of 600mg of AZD7442 given by intramuscular (IM) injection reducing the risk of developing severe COVID-19 or death (from any cause) by 50% compared to placebo in outpatients who had been symptomatic for seven days or less’.

In a prespecified analysis of participants who received treatment within five days of symptom onset, AZD7442 reduced the risk of developing severe Covid-19 or death (from any cause) by 67% compared to placebo.

ASOS (LON: ASC)

ASOS has announced a series of changes to its Board, as part of ‘the next phase of its global growth strategy’.

Nick Beighton will step down as Chief Executive Officer after 12 years with the business, including six as CEO. A search is commencing for a successor. He will remain available to the Board until the end of 2021 to ensure a smooth handover.

Mat Dunn, currently Chief Financial Officer, will take on the additional role of Chief Operating Officer and lead the business on a day-to-day basis, while Katy Mecklenburgh, currently Director of Group Finance, will become Interim Chief Financial Officer. These changes will take place with immediate effect.

Separately, the online fashion marketplace also issued its annual results for the year ending 31 August 2021, in which UK sales grew 36% year-on-year on the back of higher customer numbers.

The business has also set out plans deliver annual revenues of £7bn and an EBIT margin of at least 4%, within three to four years.

Anglo American (LON: AAL)

Anglo American announced that it has purchased 125,000 of its US$0.54945 ordinary shares from Goldman Sachs International, as part of its buyback programme announced on 29 July 2021.

On 08 October 2021, the mining company paid a volume weighted average price £26.9901 per share.

AAL will cancel the purchased shares.

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Kelvin Ong | Financial writer, Singapore
11 October 2021