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)