Savills has seen shares jump after the estate agency said it saw the UK commercial and residential markets pick up after last month's general election.

The real estate business said its full-year results for 2019 will be at the "upper end" of expectations, following an "excellent" performance in the UK.

It said Brexit uncertainty had restrained UK growth until mid-December, but saw "a strong close to the year as confidence to transact returned to the market".

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The London-listed firm also said it was particularly "resilient" as it faced challenging backdrops in both the UK and Hong Kong.

In Hong Kong, Savills said the political unrest had a severe impact on trading from the middle of 2019 and continues to press on performance in the region.

It said that, as a result of the political backdrop, its Asia Pacific region has performed "slightly below" expectations, while the company has also seen an increase in the time taken for its Australian business to bear fruit.

In the trading update, Savills said: "Despite the backdrop of uncertainty, the UK performed well across all business lines, latterly benefiting from improved investor sentiment in both commercial and residential markets.

"Our residential business continued to outperform the overall market conditions, in particular taking share in the core London market."

Savills said it believes increased political stability in the UK means it "should maintain improved sentiment", but said it remains cautious until the full impact of Brexit is better understood.

Shares in the company increased by 7.1% to 1,231p in early trading on Monday.

Drugs giant AstraZeneca said it will take a $100 million write-down after trials found a heart disease treatment was ineffective in treating certain conditions.

The London-listed business said it will stop running trials on the drug Epanova after receiving the disappointing results.

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As a result, AstraZeneca said it would carry out a review into the drug's $533 million value on its balance sheet.

Epanova is used in the US to treat hypertriglyceridemia - a condition which involves high levels of certain fats in the bloodstream and can be a forerunner to heart disease.

The company said it was testing to see if the drug would work for patients with mixed dyslipidemia, another condition which can elevate heart disease risk.

Shares in AstraZeneca were down 0.3% at 7,619.8p.

Building materials group Travis Perkins has announced the sale of its wholesale plumbing and heating business for £46 million.

The company, which is in the process of spinning off its Wickes retail arm, said it has sold the Primaflow F&P division to specialist distribution group Newbury Investments.

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The disposal is the latest move by Travis Perkins to simplify the group and focus on its trade supply business.

It said the deal will be completed by the end of January and the proceeds will be used to reduce to company's net debt.

The Primaflow business, which has been part of the Travis Perkins group since 2010, reported profits after adjusting items of £5 million in 2018.

Shares in Travis Perkins were 1.2% higher at 1,587p after the sale was announced.