Yesterday, the FTSE 100 fell 0.4%, weighed down by disappointing results from AstraZeneca (-6.4%), which unveiled a lower-than-expected guidance.

Air Astana, Kazakhstan's flag carrier, has today set the final pricing for its initial public offering (IPO) ahead of its listing on the London Stock Exchange, the Astana International Exchange, and the Kazakhstan Stock Exchange. The airline has priced its shares at 1,073.83 Kazakhstani tenge and its global depositary receipts (GDRs) at $9.5 each, implying a market capitalization of approximately $847 million. The offering includes shares held by Sovereign Wealth Fund Samruk-Kazyna and BAE Systems' Kazakhstani arm. The IPO is expected to raise between $350 million to $370 million, with $120 million earmarked for Air Astana's growth strategy.

Smart Metering Systems confirmed that it has not received any third-party offers since KKR's takeover deal. Shareholders have been advised to accept the offer by February 14 to receive payment by February 28.

Direct Line Insurance Group has confirmed that former Aviva PLC UK boss Adam Winslow will join the company as CEO on March 1. Winslow's appointment is expected to bring a strategic focus to the insurer, which skipped its final dividend last year due to a significant increase in weather-related claims.

Victrex reported a slow start to the year with a 22% drop in quarterly revenue and volumes. The company warned that visibility remains limited and achieving profit growth for the year is more challenging unless there is a step-up in run rates.

Barclays has agreed to acquire Tesco's retail banking business for approximately £600 million, which includes credit card receivables, unsecured personal loans, customer deposits, and Tesco Bank's operating infrastructure. The deal is expected to close at the end of July 2024.

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