Key Takeaways
- AstraZeneca (AZN) secured major regulatory milestones in the EU, receiving approval for Enhertu in HER2-positive solid tumors and a recommendation for Datroway in triple-negative breast cancer (TNBC).
- Prosus (PRX) outperformed market expectations for FY 2026, reporting a Core Headline EPS of $3.78, beating the $3.75 analyst estimate.
- Toyota (TM) global sales fell 7.2% in May, marking the fourth consecutive month of decline as the automaker struggles with weak demand in China.
- SK Hynix (000660) shares staged a dramatic intraday recovery, erasing an initial 5.8% loss to move into positive territory by the session close.
- Iran and Oman initiated high-level discussions regarding the Strait of Hormuz, focusing on future management and sovereign rights over the critical oil transit chokepoint.
AstraZeneca (AZN) announced a double victory in the European market today. The European Union officially approved Enhertu for the treatment of HER2-positive solid tumors, expanding its reach beyond specific organ-based indications. Additionally, the company’s drug Datroway received a formal recommendation for EU approval for patients with triple-negative breast cancer (TNBC).
Global investment group Prosus (PRX) released its FY 2026 earnings report, showing resilience in its core operations. The company reported Adjusted EBIT of $619 million, significantly higher than the $554 million projected by analysts. Market sentiment remains positive as the firm’s Adjusted EBITDA reached $1.05 billion, surpassing the $947.3 million consensus.
Toyota (7203) continues to face headwinds in the Asian market, with May global sales dropping 7.2%. This decline is largely attributed to stagnating demand in China, where local EV competitors continue to gain market share. This represents the fourth straight month of volume contraction for the world's largest automaker.
In the technology sector, SK Hynix (000660) saw high volatility as its stock price swung from a 5.8% deficit to a net gain. Amidst the trading activity, the semiconductor giant emphasized the need for stronger workforce education systems in the southwest region to support the evolving AI chip manufacturing landscape.
Geopolitical tensions and maritime management were also in focus as Iran’s Deputy Foreign Minister Gharibabadi met with Omani officials in Muscat. The inaugural Iran-Oman committee meeting addressed the management of the Strait of Hormuz under the framework of the Islamabad Memorandum of Understanding. The discussions are critical for global energy markets, given the strait's role as a primary artery for global oil supply.
On the macroeconomic front, Sweden reported a significant turnaround in its trade position for May. The nation’s Trade Balance hit 2.9 billion SEK, a sharp recovery from the 7.3 billion SEK deficit recorded in the previous period. Meanwhile, in the Asia-Pacific region, Australia’s ASX 200 (XJO) closed the session 0.7% higher at 8,823.40 points, buoyed by gains in the financial and mining sectors.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.