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Chris Beauchamp, chief market analyst at online trading platform IG, said:

DNA testing company 23andMe (MEHCQ) is being purchased out of bankruptcy by large-cap drugmaker Regeneron (REGN), for $256m.

The deal includes "substantially all assets," but excludes the telehealth platform, pharmacy fulfilment business, and lab and test ordering services under Lemonaid Health, according to the agreement filed in the US Bankruptcy Court in the Eastern District of Missouri. The deal is scheduled to close July 1.

The news sent 23andMe's stock up more than 100% briefly in early trading. Regeneron's stock was slightly lower.

The steep discount on the once highly-valued testing firm puts to end concerns about the fate of sensitive genetic data of millions of customers.

Oil prices edged lower on Monday, pressured by concerns over global economic growth following a US credit rating downgrade by Moody’s and fresh signs of slowing momentum in China, the world’s largest crude importer.

Brent crude futures (BZ=F) lost 0.6% to $65 a barrel, while West Texas Intermediate futures (CL=F) retreated 0.4% to $62.22 a barrel.

The sell-off followed Moody’s decision to lower the US sovereign credit rating, fuelling broader market caution. Simultaneously, Chinese data released on Monday showed a deceleration in both industrial output and retail sales growth in April, raising questions over the durability of the country’s recovery.

Goldman Sachs (GS) analysts have revised their global oil demand forecasts higher, anticipating an increase of 600,000 barrels per day this year and 400,000 per day in 2026. Despite this, the bank held its price targets steady at $60 per barrel for Brent crude and $56 for WTI in 2025. It expects further declines in 2026, forecasting Brent at $56 and WTI at $52.

Jensen Huang, CEO of Nvidia (NVDA), revealed details around a number of announcements on new technologies on Monday at the Computex tech expo in Taipei, Taiwan.

This included showcasing Nvidia Isaac GR00T-Dreams, which the company described as a blueprint that helps generate large amounts of synthetic motion data that physical artificial intelligence (AI) developers can use to teach robots new behaviours.

In addition to its robotics capabilities, Nvidia unveiled its new NVLink Fusion offering, which allows customers to build custom servers using Nvidia’s Grace CPU and a third-party AI chip paired with Nvidia’s various server infrastructure offerings.

Nvidia shares were down around 1% in early trading on Monday, though the stock has seen a stronger performance more recently and is up 29% over the past month.

Last week, Huang said during an investment forum in Saudi Arabia — which was attended by US president Donald Trump and other Big Tech CEOs — that the chipmaker will ship its semiconductors to Saudi Arabian artificial intelligence company Humain for its massive data centre plans.

The EU-UK deal announced today is designed to make food cheaper, with the removal of checks on agrifoods adding £9bn to the UK economy while lowering prices, according to No 10.

It will also grant EU fishers access to British waters for another 12 years — a topic which has been the subject of thorny negotiation in a post-Brexit world.

The deal also deepens the defence partnership between the UK and the bloc as well as altering agreements on carbon taxes.

European Commission president Ursula von der Leyen said it was a “historic moment”.

Speaking alongside Sir Keir Starmer at the summit in Lancaster House, she said: “We are turning a page. We are opening a new chapter in our unique relationship.”

It was a story of “natural partners standing side-by-side on the global stage”, she said.

Vicky McKeever writes:

Shares in Ryanair (RYA.IR) were up 4.3%, on the back of the budget airline's full-year results.

Ryanair posted revenue of €13.44bn (£11.31bn), which was up 4% on the previous year, while profit after tax of €1.6bn was down 16%.

Russ Mould, investment director at AJ Bell (AJB.L), said: "Companies often find some extraordinary language to avoid stating the bare facts. Ryanair says consumer spending pressure and a drop-off in online travel agent bookings ‘necessitated repeated price stimulation’. In plain English, it had to cut prices to get bums on seats.

"Further headwinds for Ryanair are the problems at Boeing which are limiting its growth efforts and have forced consistent downgrades to its passenger growth targets," he said. "The airline is confident it can catch up on this missed growth but, in the current environment, investors would be forgiven for exercising some healthy scepticism."

However, Mould said that profit was towards the "higher end of expectations and the company feels sufficiently confident about the outlook to unveil a substantial share buyback."

Gold prices climbed on Monday, buoyed by a fresh wave of safe-haven buying following Moody’s decision to downgrade the US credit rating and renewed trade tensions out of Washington.

Gold futures (GC=F) climbed 1.4% to $3,232.70 per ounce at the time of writing, while the spot gold price rose 0.8% to $3,229.61 per ounce.

"The Moody's downgrade of the US credit rating, and the corresponding risk-off reaction by the market, has put some pep back into the gold price," said KCM Trade chief market analyst Tim Waterer.

Moody’s cut its rating on US sovereign debt by one notch on Friday, citing concerns over the government’s fiscal trajectory and ballooning debt burden. It is the last of the three major credit agencies to strip the US of its top-tier rating.

Sentiment was further rattled by Treasury secretary Scott Bessent, who reiterated president Donald Trump’s intention to press ahead with tariff threats made last month. In a series of television interviews on Sunday, Bessent said Trump would act against trading partners that fail to negotiate in “good faith”.

Traditionally considered a safe-haven asset during political and economic uncertainty, gold thrives in a low interest rate environment.

Yet despite gold’s sharp rise in recent months, scepticism among investors is growing. A record 45% of respondents to Bank of America’s latest global fund managers survey now view gold as an “overvalued” asset, up from 34% in April, when prices were rallying to all-time highs.

“I think the gold story is pretty straightforward … if we look at our global fund managers survey, gold was the most overly positioned asset across the spectrum,” Francisco Blanch, head of global commodities at BofA told Bloomberg. “So everyone’s long gold … that’s the trade.”

“Now, I’m not necessarily bearish long term; we still like gold in the long run, but we have a $3,500 lower price target. We believe, for now, the peak might be in, and we might have to see another layer of tensions building up from the US."

Read more on Yahoo Finance UK

Asian markets saw a similar reversal of last week's upward trajectory. Indexes across the region fell overnight Sunday as investors digested US credit changes and the release of disappointing Chinese economic data.

Our US team writes:

US stock futures took a hit Sunday evening as Wall Street processed Moody's downgrade of the US credit rating and new developments in President Trump's tariff salvos.

Dow Jones Industrial Average futures (YM=F) dropped around 330 points, or 0.8%. Contracts tied to the S&P 500 (ES=F) and Nasdaq 100 (NQ=F) were down 1.1% and 1.3%, respectively.

Moody’s cut the US government’s long-term credit rating from Aaa to Aa1 late Friday, citing escalating deficits and the increasing burden of refinancing debt amid elevated interest rates. The downgrade brings Moody’s in line with Fitch and S&P, which previously stripped the US of its top-tier rating.

The bearish tone in futures trading follows a bullish run for equities. Investors last week embraced news of a temporary US-China tariff truce, which sent all three major indexes to a banner week. The Nasdaq surged over 7%, while the S&P 500 added more than 5% in a five-day rally. The Dow climbed more than 3%, finishing Friday’s session up more than 300 points.

Read more on Yahoo Finance

Pedro Goncalves writes:

The average price of a UK property coming to market has climbed to £379,517 in May, but the seasonal uplift is more subdued than usual, suggesting a market adjusting to increased supply and cautious buyer sentiment.

The average asking price for properties going on sale this month has increased by 0.6% or £2,335, according to Rightmove (RMV.L). While this represents a new high, it is the weakest May increase since 2016.

“It’s another new price record this month, but having seen a May price record for the last five years, it appears to be driven more by seasonal factors given that new buyer demand has slowed,” said Colleen Babcock, a property expert at Rightmove. “The ten-year high choice of homes for sale means that sellers need to be aware of the level of competition they’re facing for the attention of buyers.”

Rightmove’s figures show that while demand in March surged as buyers sought to complete transactions ahead of April’s stamp duty changes in England, activity slowed the following month. Buyer interest fell 4% in April compared to the same period in 2024 — the first year-on-year decline recorded in 2025.

Read more on Yahoo Finance UK

Lucy Harley-McKeown here. It's another cloudy day in London and the B word is on the minds of markets.

Brexit is back on the agenda as prime minister Keir Starmer hosts EU leaders in London, looking for a pathway to a new UK-EU deal.

Results-wise the Big Yellow Group (B9Y.F) and Kainos (1KG.F) are reporting full-year results and there's an update from drinksmaker Diageo (DGE.L). Ryanair (RY4D.F) also posts quarterly results.

Otherwise, there's a UK house price update which we'll be covering off later.

Let's get to it.