China's Steel Exports Defy Protectionist Wave to Hit New High
Shipments of finished steel used in construction to cars and appliances reached 30.7 million tons for the three months April to June. That's up 11% from a year earlier and beats the previous quarterly peak during a flood of exports a decade ago. The total first-half tonnage was 9% higher.
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Hong Kong leads most stocks higher, yen gains as Ishiba vows to stay
Equities mostly rose Monday on optimism countries will reach US trade deals before an August 1 deadline, while the yen gained after Japanese Prime Minister Shigeru Ishiba said he would stay in office despite another election defeat. Hong Kong topped 25,000 points for the first time in three years as tech giants advanced following strong earnings from Taiwanese chip giant TSMC and news US titan Nvidia would be allowed to export key semiconductors to China. While only three countries have signed agreements to avoid the worst of US President Donald Trump's tariffs, analysts said investors were hopeful that others -- including Japan and South Korea -- will follow suit. The upbeat mood has been helped by a series of largely positive US economic data releases that suggested the world's top economy remained in rude health, helping to push Wall Street to multiple record highs. Hong Kong climbed to as high as 25,010.90 -- its highest level since February 2022 -- thanks to a strong performance in ecommerce leaders Alibaba and and food delivery provider Meituan. A surge in Chinese money supply sparked by Beijing's stimulus measures has added to the jump in Hong Kong's market, which has spiked around 25 percent since the turn of the year. There were also gains in Shanghai, Singapore, Seoul, Wellington, Manila, Mumbai and Jakarta, while London, Paris and Frankfurt opened higher. Sydney, Bangkok and Taipei slipped, and Tokyo was closed for a holiday. The yen strengthened against the dollar after Ishiba vowed to stay on even after his ruling coalition lost its overall majority in Sunday's lower house elections, months after it suffered a similar fate in an upper house vote. The losses came amid growing anger at the surging cost of living, including a doubling in the cost of rice. Analysts said that while the result was bad for the Liberal Democratic Party and its partner Komeito, the fact that the prime minister would remain in office provided some stability for now. The yen sat around 147.79 per dollar in afternoon trade. The currency had been weighed in recent weeks by expectations a bad defeat would lead to more spending and tax cuts. Despite Ishiba's decision to stay, he will still face pressure to cut or abolish consumption tax, something Ishiba has opposed in view of Japan's colossal national debts of more than 200 percent of gross domestic product. It also comes as he struggles to reach a trade deal with Trump, who has threatened tariffs of 25 percent on goods from Japan. Jiji Press reported that Ishiba would inform a meeting of senior LDP figures on Monday that he will stay in office. If he did go, it is unclear who might step up to replace him now that the government needs opposition support in both chambers to pass legislation. The election result "now raises a host of questions, including whether... Ishiba remains in power or decides to resign, how potentially expansionary could fiscal policy become, and will domestic politics be a hurdle in reaching a potential trade agreement with the US?", wrote Paul Mackel, global head of forex research at HSBC. Others suggested the yen could still come under pressure, and possibly top 150 for the first time since March, owing to lingering uncertainty about the leadership and pressure on the central bank to hold off more interest rate hikes. David Chao, global market strategist for Asia Pacific at Invesco, warned: "The increased political fragility is likely to constrain the Bank of Japan's ability to tighten monetary policy in the near term, as it may be reluctant to add further pressure to an already volatile landscape." - Key figures at around 0715 GMT - Hong Kong - Hang Seng Index: UP 0.7 percent at 24,997.16 Shanghai - Composite: UP 0.7 percent at 3,559.79 (close) London - FTSE 100: UP 0.1 percent at 8,997.59 Tokyo - Nikkei 225: Closed for a holiday Dollar/yen: DOWN at 147.84 yen from 148.73 yen on Friday Euro/dollar: UP at $1.1642 from $1.1627 Pound/dollar: UP at $1.3442 from $1.3414 Euro/pound: DOWN at 86.60 pence from 86.67 pence West Texas Intermediate: UP 0.1 percent at $67.39 per barrel Brent North Sea Crude: DOWN 0.1 percent at $69.24 per barrel New York - Dow: DOWN 0.3 percent at 44,342.19 (close) dan/dhw Sign in to access your portfolio
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Portugal's Galp core profit beats expectations with a 1% contraction
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Darolutamide receives EU approval in third indication for patients with advanced prostate cancer
ORION CORPORATION PRESS RELEASE 21 JULY 2025 at 10:30 EEST Darolutamide receives EU approval in third indication for patients with advanced prostate cancer European Commission granted approval of darolutamide in combination with androgen deprivation therapy (ADT) for patients with metastatic hormone-sensitive prostate cancer (mHSPC). Approval is based on positive results from the pivotal Phase III ARANOTE trial. This broadened indication allows doctors to use darolutamide plus ADT, with or without chemotherapy (docetaxel), enabling them to better tailor treatment plans to meet the needs of patients with mHSPC. Orion's collaboration partner Bayer announced today that the European Commission has granted marketing authorization in the European Union (EU) for darolutamide, an oral androgen receptor inhibitor (ARi), plus androgen deprivation therapy (ADT) for the treatment of patients with metastatic hormone-sensitive prostate cancer (mHSPC). The approval is based on positive results from the pivotal Phase III ARANOTE trial, which showed that darolutamide plus ADT significantly reduced the risk of radiological progression or death by 46% compared to placebo plus ADT (HR 0.54; 95% CI 0.41–0.71; P<0.0001) in patients with mHSPC. Darolutamide, under the brand name Nubeqa®, is already approved in over 85 countries for use with ADT and docetaxel in mHSPC, and with ADT alone in non-metastatic castration-resistant prostate cancer (nmCRPC) in patients who are at high risk of developing metastatic disease. Darolutamide is developed jointly by Orion and Bayer. Prostate cancer is the second most common cancer and the fifth most common cause of cancer death in men worldwide. In 2022, an estimated 1.5 million men were diagnosed with prostate cancer, and about 397,000 died from the disease worldwide.1 In Europe, there were almost 474,000 estimated new cases of prostate cancer in 2022 with approximately 115,000 deaths. 2 Prostate cancer diagnoses are projected to increase to 2.9 million by 2040.3 About the ARANOTE trial The ARANOTE trial is a randomized, double-blind, placebo-controlled Phase III study designed to assess the efficacy and safety of darolutamide plus ADT in patients with mHSPC. 669 patients were randomized 2:1 to receive 600mg of darolutamide twice daily or matching placebo in addition to ADT. The primary endpoint of this study is radiological progression free survival (rPFS), measured as time from randomization to date of first documented radiological progressive disease or death due to any cause, whichever occurs first. Secondary endpoints include overall survival (time to death from any cause), time to first castration resistant event, time to initiation of subsequent anti-cancer therapy, time to prostate-specific antigen (PSA) progression, PSA undetectable rates, time to pain progression, and safety assessments. Results from the Phase III ARANOTE trial presented at ESMO 2024 and published in The Journal of Clinical Oncology showed that darolutamide plus ADT significantly reduced the risk of radiological progression or death by 46% compared to placebo plus ADT (HR 0.54; 95% CI 0.41–0.71; P<0.0001), in patients with mHSPC. Consistent benefits in rPFS were observed across prespecified subgroups, including patients with high-volume (HR 0.60, 95% CI: 0.44-0.80) and low-volume (HR 0.30, 95% CI: 0.15-0.60) mHSPC. The incidence of adverse events in the treatment group with darolutamide plus ADT in the ARANOTE study was comparable to placebo plus ADT. Darolutamide plus ADT was generally well tolerated and showed lower discontinuation rates due to adverse events compared to placebo plus ADT. About darolutamide Darolutamide is an oral ARi with a unique chemical structure that binds with high affinity to the androgen receptor and exhibits a strong antagonistic effect against the androgen receptor inhibiting the receptor function and the growth of prostate cancer cells. Additionally, preclinical models and neuroimaging data in healthy humans, support darolutamide's low potential for blood-brain barrier penetration. Darolutamide (plus ADT or plus ADT and docetaxel) demonstrated a side effect profile, in both mHSPC registrational studies where the incidences of adverse events were roughly similar to the respective comparator arm. Darolutamide is a treatment option for doctors and patients, considering its tolerability and low risk of drug interaction. A robust clinical development program is underway investigating darolutamide across various stages of prostate cancer. The program includes the Phase III ARASTEP trial evaluating darolutamide plus ADT compared to ADT alone in hormone-sensitive high-risk biochemical recurrence (BCR) prostate cancer, who have no evidence of metastatic disease by conventional imaging and a positive PSMA PET/CT at baseline. Furthermore, darolutamide is also being investigated by Bayer in the collaborative Phase III DASL-HiCaP (ANZUP1801) trial led by the Australian and New Zealand Urogenital and Prostate Cancer Trials Group (ANZUP). The study evaluates darolutamide as a treatment for localized prostate cancer in combination with radiotherapy. About metastatic hormone-sensitive prostate cancer At the time of diagnosis, most men have localized prostate cancer, meaning their cancer is confined to the prostate gland and can be treated with curative surgery or radiotherapy. mHSPC is a stage in the disease where the cancer has spread outside of the prostate to other parts of the body. Up to 10% of men will present with mHSPC when first diagnosed.4,5,6 For patients with mHSPC, ADT is the cornerstone of treatment, in combination with chemotherapy docetaxel and/or an androgen receptor inhibitor (ARi). Despite treatment, most men with mHSPC will eventually progress to castration-resistant prostate cancer (CRPC), a condition with limited survival. Contact person: Terhi Ormio, Vice President, Communications, Orion Corporation tel. +358 10 426 4646 References Bray F et al. Global cancer statistics 2022: GLOBOCAN estimates of incidence and mortality worldwide for 36 cancers in 185 countries. Accessed: June 2025. Ferlay J et al. 2024. Global Cancer Observatory: Cancer Today. Lyon, France: International Agency for Research on Cancer. Available at: Accessed June 2025.. James ND et al. Lancet 2024; 403: 1683–722. Piombino C et al. Cancers (Basel). 2023 Oct 11;15(20):4945. Helgstrand JT et al. Cancer. 2018;124(14):2931-2938. Buzzoni C et al. Eur. Urol. 2015;68:885–890. Publisher:Orion CorporationCommunicationsOrionintie 1A, FI-02200 Espoo, Orion is a globally operating Nordic pharmaceutical company – a builder of well-being for over a hundred years. We develop, manufacture and market human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and consumer health products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others. In 2024 Orion's net sales amounted to EUR 1,542 million and the company employed about 3,700 professionals worldwide, dedicated to building well-being. Orion's A and B shares are listed on Nasdaq Helsinki.
