Concoction of risks weighs on London markets October 4, 2021 A concoction of risks threatening to scupper the global economic recovery from the Covid-19 crisis weighed on London markets this morning. The capital’s premier index edged down 0.12 per cent to 7,018.60 points during the first couple of hours of trading today. Ongoing supply issues, severe shortages, accelerating inflation and the growing likelihood of central [...]
What the data tells us about the next phase of the Covid-19 pandemic October 4, 2021 | City Talk What has been happening since the beginning of September in the US and UK? The Delta variant of Covid-19 is key to understanding the current trends around the reopening of the global economy. Countries that were aiming for so-called “Zero Covid” have found that this strategy doesn’t work so well against a virus that spreads [...]
Going for gold (and copper): Great Southern Copper plots £3.5m London IPO October 4, 2021 Copper-gold exploration company Great Southern Copper (GSC) has told City AM it is targeting a listing on London’s main market in the coming weeks, as it capitalises on copper’s central role in the growing electric vehicle (EV) market. GSC, which focuses on tier-one assets in the largest copper producer in the world, Chile, is seeking [...]
London markets look to put soggy week behind them October 4, 2021 Investors will be looking to put what was a soggy end to last week behind them today and kick off a fresh week in positive fashion. The FTSE 100 tumbled 0.84 per cent to 7,027.07 points last Friday as markets sweated over the global economic recovery from the Covid-19 crisis stalling after Wall Street registered [...]
Evergrande shares suspended in Hong Kong amid takeover rumours October 4, 2021 Turmoil in Hong Kong this morning, as trading in shares from property giant Evergrande Group and its real estate management unit Evergrande Property Services have been suspended. The companies’ filings did not specify why the shares were stopped from trading. Cailian, a Chinese online news service affiliated with the state-run newspaper Securities Times, said another [...]
CD&R wins takeover battle for Morrisons at auction with £7bn bid October 3, 2021 US private equity firm Clayton, Dubilier & Rice has beaten the Fortress Investment consortium at auction for Morrisons with a bid of £7bn for the supermarket. Clayton, Dubilier & Rice (CD&R) bid 287 pence per share – 2 pence per share above their existing offer and just a penny above the 286 pence offered by [...]
Bridgepoint enlists Rothschild for £1.3bn Miller Homes sale amid housing boom October 2, 2021 Bridgepoint is seeking to capitalise on soaring valuations as the housing market booms, with the sale or float of Miller Homes, one of the UK’s biggest housebuilders. The private equity firm has appointed investment bank Rothschild to advise on its potential exit from Miller Homes, four years after it bought the company from GSO Capital [...]
Going once, going twice: LiveAuctioneers sold to London’s ATG for $500m October 1, 2021 London-based Auction Technology Group (ATG) has snapped up the holding company of online auction business LiveAuctioneers for a dear $500m. The acquisition, for Platinum Parent, involves both cash and the issue of new shares after the Competition and Markets Authority (CMA) gave the deal the green light on Wednesday, The deal also features an earnout [...]
Pfizer and Moderna down: Merck’s stock skyrockets after its new Covid antiviral pill smashes all expectations October 1, 2021 Shares in US science giant Merck are up by more than 10 per cent this afternoon after the company revealed a newly developed Covid-19 pill smashes all expectations. As a result, vaccine giants across the board are down, Pfizer by nearly 2 per cent, Moderna 4.7 per cent and Novavax dropped by 7.5%. The companies [...]
London markets tumble after US stocks register worst month since March 2020 October 1, 2021 London’s FTSE 100 tumbled on the closing day of the week as investors sweated over the global economic recovery from the Covid-19 crisis stalling after Wall Street registered its worst month since March 2020. The capital’s premier index slid 0.94 per cent to 7,019.90 points. The spectre of rising costs eating into margins, rate hikes [...]