Babcock and Rolls-Royce stocks rally after Healey appointment July 21, 2026 Defence stocks including Rolls-Royce have stormed to new highs as investors added to bets that the new Chancellor John Healey would plough further cash into London-listed arms companies. Defence supply giants Babcock and BAE Systems were among the biggest risers when markets opened on Tuesday, some 12 hours after former defence secretary Healey was appointed [...]
London Stock Exchange unveils ‘LSE24’ round-the-clock trading venue July 21, 2026 The London Stock Exchange has unveiled plans to introduce 24-hour trading as it seeks to claw back interest from retail investors lured away by crypto and overseas markets. The stock market’s operator, LSEG, said it will launch the new venue, dubbed LSE24, as soon as next year in order to give “global investors greater flexibility [...]
FTSE 250 facilities manager swept off London Stock Exchange in £3.1bn deal July 21, 2026 Mitie is set to become the latest company picked off the London Stock Exchange, after agreeing to a £3.1bn takeover by UK rival OCS. The global facilities management company agreed to pay 221.6p in cash for the firm, comprising 218.5p per Mitie share and a final dividend of up to 3.1p. The offer price is [...]
As it happened: Stocks rally as defence shares surge on John Healey as Chancellor July 21, 2026 Welcome back to the City AM FTSE 100 liveblog. It’s Tuesday and the markets have been adjusting to the first full day of Andy Burnham’s Labour government. Burnham shocked Westminster and the City on Monday evening when he appointed John Healey as his Chancellor, just weeks after he had resigned in protest as defence secretary. [...]
Big Yellow slashes staff and turns to automation after Reeves’ business rates blow July 20, 2026 Big Yellow continued to trim its headcount and hike investment into automation in a bid to cut staff costs, as the company continues to deal with the fallout of Reeves’ decision to hike business rates. The Chancellor’s decision to increase both national insurance and minimum wage in the 2024 Autumn Budget, caused the group to [...]
London-listed healthcare services firm hit by cyberattack July 20, 2026 Shares in Craneware tumbled in early trading on Monday as the healthcare services firm revealed it had been hit by a cyberattack. The AIM-listed business said the incident involved “unauthorised access to a subset of its data environment”. Early investigations suggest “a significant volume of file names were viewed and exfiltrated”. Employee data as well [...]
As it happened: John Healey named Chancellor as Burnham shakes-up cabinet July 20, 2026 Welcome back to the City AM liveblog. Andy Burnham has become the UK’s newest Prime Minister, succeeding Sir Keir Starmer just two years after his landslide win at the 2024 general election. Starmer visited the King this morning to give him his resignation. In his farewell speech outside Number 10, the outgoing Prime Minister said [...]
Private equity firms eye valuation gap as City falls to takeovers July 20, 2026 The London Stock Exchange has seen a sharp uptick in takeover premiums this year as a deals spree from led by private equity firms and foreign buyers accelerates. The average price paid by acquirers relative to companies’ share prices has hit 45 per cent, according to data from AJ Bell. Foreign buyers account for 86 [...]
As it happened: Stocks rise despite IEA warning of ‘critical’ oil issue July 17, 2026 Welcome back to the City AM liveblog. Oil is on track to gain around 12 per cent for the week after the continued escalation of strikes between the US and Iran. Brent crude – the international benchmark for oil – is holding steady around the $85 per barrel mark after US’ multiple strike offensives against [...]
PwC slapped with multi-million fine for audit failures at FTSE 100 firm Babcock July 16, 2026 Big Four giant PwC and a former partner have been fined over £5.5m for the audit failures of London-listed engineering giant Babcock International. The Financial Reporting Council (FRC) issued disciplinary action against the firm and its audit partner, John Waters, following numerous serious audit breaches during the financial years 2019 and 2020 audits of the [...]