AstraZeneca halts share repurchases
Shares in drugs giant AstraZeneca were hit in afternoon trading on Monday after the company revealed that it has suspended its share repurchase programme.
Shares in drugs giant AstraZeneca were hit in afternoon trading on Monday after the company revealed that it has suspended its share repurchase programme.
After trading in the blue in morning trade, shares swung into negative territory shortly after the announcement, trading down 1.93% at 2,898p by 14:08.
The company has repurchased a net $0.7bn of shares since the end of the first half, bringing the year-to-date total to $2.3bn. The group's initial full-year target for repurchases stands at $4.5bn.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chief Executive Officer Pascal Soriot, who was appointed as frontman of the pharmaceuticals mammoth on August 28th, said in a statement: "As I assume my new responsibilities at AstraZeneca, I believe this is a prudent step that maintains flexibility while the board and I complete the company's ongoing annual strategy update."
Nevertheless, the firm reassured that its core earnings per share (EPS) target range for the full year remains at $6.00-6.30.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
House prices rising fastest in areas with highest crime rates – where does your area rank?
Property prices are higher in safer areas but growing more slowly than in places benefiting from gentrification and buy-to-lets
-
State pension age review launched – could it rise faster in future?
The government has announced a review of the state pension age, after it warned of a “retirement crisis” and revived the Pensions Commission to boost pension savings