FTSE shrugged off another torrid day on US markets but UK inflation concerns remain
0FTSE shrugged off another torrid day on US markets and made decent headway early on. London blue-chip’s index rose 25 points to 7,231 also helped by a smattering of M&A.
Real wages in Britain plunged by their fastest rate in over a decade on surging inflation. Regular pay between February and April fell 2.2% compared with the prior year when adjusted for rising prices.
ITV has bought leading natural history program producer Plimsoll Productions in an all-cash deal. It acquired nearly 80% of the company for £104mln.
Go-Ahead Group has accepted a nearly £650mln bid from the Kinetic-Globalvia Inversiones consortium. The UK-based bus and rail operator runs Thameslink trains and the Gatwick Express.
Eco (Atlantic) Oil & Gas’s deal to acquire JHI Associates, to increase its interests in exploration assets offshore Guyana, is off after technical terms of the deal could not be finalised. The AIM-quoted company said it could not agree lock-up terms.
Open Orphan’s hVIVO subsidiary won its third significant deal in under a month as it announced a £7.2mln human challenge contract with an unnamed ‘top five’ global pharma group. The clinical research group will test the pharma's RSV vaccine.
discoverIE said its new financial year has started well with continued strong growth. The components group added it has significant funding headroom for further acquisitions.