Good evening, you're listening to Markets Desk.
MoonLake Immunotherapeutics surged today after releasing positive fifty-two week data from its Phase three VELA trials evaluating sonelokimab in moderate-to-severe hidradenitis suppurativa. The results reinforce the drug's registrational case and sent shares sharply higher, putting the clinical-stage biotech firmly on institutional radar.
Shifting to geopolitics with direct commodity implications, Ukraine's expanding drone campaign is now squeezing Russia's grip on Crimea, forcing the peninsula to implement its most severe fuel rationing yet. Sevastopol has cut ferry services and street lighting following weekend strikes, signaling that Ukraine's locally-produced fixed-wing systems are achieving meaningful logistical disruption.
And in the United Kingdom, Prime Minister Keir Starmer is expected to outline a departure timetable as pressure from within his own party reaches a critical threshold. Political uncertainty of this magnitude typically weighs on sterling and UK gilts, and traders will be watching closely for any timeline that accelerates a leadership transition and reshapes the fiscal policy outlook.
That's the tape. Markets Desk, signing off the floor.
