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Agribusiness

Morning news wrap: Autonomy Corporation, BAE Systems, AstraZeneca, Sainsbury's, Wellstream

In the FTSE 100, software developer Autonomy Corporation (LSE: AU) has entered into a “seven figure” license agreement with defence contractor BAE Systems (LSE: BA) over its Intelligent Data Operating Layer (IDOL) software.

Pharmaceutical company AstraZeneca (LSE: AZN) announced an agreement with Teva Pharmaceutical Industries and affiliates to settle patent litigation regarding Teva’s proposed generic version of the company’s Nexium delayed-release capsules.

Supermarket chain Sainsbury’s (LSE: SBRY) released a trading statement, saying total sales for Q3 were up 6.2%, while like for likes improved 3.8%.

In the FTSE 250, oil and gas equipment manufacturer Wellstream (LSE: WSM) said revenues have been ahead of last year, while earnings were in lie with expectations.

In AIM, Africa focused gold miner Pan African Resources (AIM: PAF) advised its shareholders that discussions over a possible transaction were still in progress and, if concluded, could have a “material effect” on the price of the company’s stock.