European Movers: BP (BP/ LN) +3.0%, Leonardo (LDO IM) +1.3%, Volkswagen (VOW3 GY) -0.5%, Telefonica (TEF SM) -2.4%, AstraZeneca (AZN LN) -2.7%, Roche (ROG SW) -5.5%

AstraZeneca (AZN LN) - Enhertu granted Priority Review in the US as post-neoadjuvant treatment for patients with HER2-positive  early breast cancer. If approved, AstraZeneca and Daiichi Sankyoʼs Enhertu has the potential to become a new standard of care in  this early breast cancer setting. (AstraZeneca)

Energy Prices - Oil prices surged some 30% at one point to just shy of USD 120/bbl as the continued Iran conflict forces producers  to begin cutting output. Crude futures pulled back following FT reports that the G7 is to discuss a joint release of emergency oil  reserves in an emergency meeting on Monday.

Leonardo (LDO IM) upgraded to Overweight from Equal Weight at Barclays

Roche (ROG SW) – Genetech provides update on Phase III persevERA study. persevERA Breast Cancer study did not meet the  primary objective of a statistically significant improvement in progression-free survival, but a numerical improvement was observed.

Telefonica (TEF SM) - The FT reports that the Co. will consider further takeovers of UK broadband providers to strengthen Virgin  Media O2. (FT)  

Volkswagen (VOW3 GY) - Volkswagen dealers are opposing the carmakerʼs plan to sell Scout Motors SUVs and trucks directly to  consumers, with the latest in a series of lawsuits seeking to block the move, WSJ reports. The dispute centres on Volkswagen  bypassing dealerships for the new Scout brand, which will offer US-built electric and hybrid vehicles. (WSJ)

AstraZeneca's potential approval for Enhertu could reshape treatment standards in early breast cancer, which might positively influence their market position and investor sentiment. Meanwhile, Leonardo receiving an upgrade to Overweight reflects confidence in its growth prospects, which could drive stock performance. Contrarily, Volkswagen is facing legal challenges regarding its distribution strategy, which could hinder its market initiatives and affect investor outlook.