The UK is looking to restart CO2 production; inflation expectations jump; Entain shares rise on takeover approach – business live | Business
While investors are still clearly nervous about the countdown to a possible Evergrande default, they were happy to jump on rebound stock today or seize potential new opportunities. Sports betting group Entain topped FTSE 100 hikes after confirming an approach to take over US operator DraftKings.
That’s an incredible offer when compared to that of MGM earlier in the year and it’s no wonder stocks have hit an all-time high, although investors in the US firm seem a little less enticed by this perspective.
M&A action is also at the forefront of the FTSE 250, with National Express’s plans to buy out rival Stagecoach met with warm greetings at all levels; there’s just the little competition watchdog problem to sort out before the ink can meet the paper.
“While the London Blue Chip Index still failed to climb above the 7,000 mark today, it has given confidence some encouragement, including the news that the government has entered into a agreement to restart production in two fertilizer factories. While many headlines will focus on the meat that accompanies our two vegetables, the government has been keen to stress that this deal is unique and is primarily aimed at keeping NHS operations on track and chilling the vaccines.
Good intentions pave the way for some pretty tricky places and some will be concerned about the precedent set by the move and there will certainly be questions about contingency plans going forward.