London pre-open: Stocks seen up despite Asian losses

(Sharecast News) - London stocks were set to rise on Monday at the start of the final week before Christmas, despite losses in the Asian session. The FTSE 100 was called to open 24 points higher at 7,356.

CMC Markets analyst Michael Hewson said: "Markets in Asia have got off to weak start to the week, although the losses have been tempered by pledge by Chinese leaders to focus on boosting the economy next year, even as covid infections continue to rise sharply.

"Markets here in Europe look set for a modest rebound ahead of today's Germany IFO and tomorrow's Bank of Japan meeting, with the Japanese yen rising in Asia trade on reports that we could be on the cusp of a pivot on their current easy monetary policy, towards a slightly tighter posture, although it's unlikely to happen much before Q2 of next year."

In corporate news, AstraZeneca's Forxiga drug has been recommended for approval in the EU for symptomatic chronic heart failure, the pharma company said.

If approved, the treatment will be the first heart failure therapy indicated across the full ejection fraction range with proven mortality reduction, it added.

Elsewhere, hospital group Spire Healthcare announced the acquisition of The Doctors Clinic Group, an integrated provider of occupational health and private GP services, for £12m.

Chief executive Justin Ash said: "The Doctors Clinic Group will provide Spire with a strong platform to enter and expand in the fast-growing occupational health sector, and to increase our capacity to meet the burgeoning need for private GP services.

"This acquisition is closely aligned to our growth strategy and I look forward to welcoming all colleagues at The Doctors Clinic Group to Spire Healthcare."