Darty share price soars as bidding war breaks out between Steinhoff’s Conforama and Fnac April 21, 2016 A bidding war has broken out between retailers Fnac and Conforama after both companies raised their offers for the electricals group Darty today in a race to outbid eachother. The stakes were raised last night when Conforama, a French homeware retailer owned by South Africa's Steinhoff, increased its cash offer for shares in Darty to 138p per share. The group also revealed that it [...]
European Central Bank (ECB) keeps interest rates on hold as Super Mario prepares to update the markets April 21, 2016 The European Central Bank (ECB) has kept interest rates unchanged as its president, Mario Draghi, prepares to confront criticisms of the Bank's monetary policy this afternoon. A statement from the ECB, published ahead of a key press conference with Draghi, said: The ECB decided that the interest rate on the main refinancing operations and the [...]
Brick maker Forterra floats on London Stock Exchange with £360m valuation as it seeks to capitalise on growing UK housing market April 21, 2016 The UK's second largest brick maker is making its debut on the London Stock Exchange today as it seeks to take advantage of the UK's growing housing market. The flotation values Forterra at £360m, with the company missing its target of £450m. The initial public offering (IPO) comprises a sale of 70m shares, representing 35 per cent of the [...]
Retail prices drop for 21st consecutive month, but we’re still cutting back, according to the Office for National Statistics (ONS) April 21, 2016 Poor retail figures released by the Office for National Statistics (ONS) this morning have compounded fears of a slowdown in the UK economy during the first quarter of the year. Sales dropped by 1.3 per cent in March, a much steeper fall than the 0.1 per cent which had been pencilled in by analysts. Prices in [...]
Mortgage lending rockets in March 2016 as stamp duty tax changes prompt a borrowing spree April 21, 2016 Mortgage lending ballooned in March as landlords and investors piled into the property market to beat a slew of tax changes which came into effect at the start of April. A total of £25.7bn was borrowed for home purchases in March, according to figures released by the Council of Mortgage Lenders (CML) this morning – 43 [...]
The government has already missed its deficit reduction targets as public sector borrowing comes in at £74bn for 2015/16 April 21, 2016 The government has fallen short of its target to cut the deficit – just one month after it made its latest prediction. Public sector net borrowing, the amount the government needs to borrow in order to meet its spending commitments, came in at £74bn in the 12 months to March. This was down on the £92bn shortfall recorded [...]
Silver prices are massively outshining gold, after it reached an 11-month high overnight April 21, 2016 It seems all that glitters definitely isn't gold at the moment – investors are increasingly going berserk for silver. After a none-too-impressive end to 2016, the metal has become increasingly sought-after – and last night, it reached an 11-month high. This morning silver was up 1.6 per cent at $17.41 per troy ounce, according to Bloomberg. [...]
Here’s what to keep an eye on from European Central Bank (ECB) president Mario Draghi later today April 21, 2016 It’s decision time in Frankfurt once again. This afternoon, the European Central Bank (ECB) will announce its latest stance on interest rates and its bond-buying quantitative easing (QE) programme. It’s highly unlikely anything will change, but following last month’s awkward outing for president Mario Draghi, the style will arguably be more important than the substance. Here’s what [...]
At the open: FTSE 100 clinging on, as markets look ahead to European Central Bank (ECB) interest rate and quantitative easing decision April 21, 2016 The FTSE 100 popped, dropped then levelled off this morning, to stand down 0.06 per cent at 6,406 in the first minutes of Thursday trading. Miners started on the up after Brent Crude smashed through the $45 a barrel mark last night and held on this morning to clock in for the day at $45.84 [...]
YouGov poll: Give us better transport links and we’ll move further out, commuters say April 21, 2016 More than half (55 per cent) of commuters would consider moving further away from their place of work if transport links were better according to a poll by YouGov. When asked about the most important factors for choosing where to live 38 per cent said quality of life, 19 per cent said proximity to family and [...]