UK update – House prices fall for first time in 2021, BHP to exit petroleum?

0
62
imageStock Markets9 hours ago (Aug 16, 2021 08:37)

© Reuters.

By Samuel Indyk

Investing.com – At 08:35BST, the FTSE 100 is trading lower by 0.7% at 7,166. The midcap FTSE 250 is trading lower by 0.1% at 23,760.

In FX markets, GBP/USD is trading at 1.3861, EUR/GBP is trading at 0.8506. The US Dollar Index is flat.

This week’s calendar highlights include labour market (Tue), inflation (Wed) and retail sales (Fri) data from the UK.

On Wednesday, the FOMC releases the minutes from its latest monetary policy meeting.

Data

UK house prices dropped 0.3% month on month in August, according to Rightmove. First decline in house prices this year.

Stocks

BHP Group (LON:BHPB) – Confirms strategic review of its petroleum business. One option being considered is a potential merger with Woodside Petroleum and distribution of Woodside shares to BHP shareholders.

Ultra Electronics (LON:ULE) – Agrees to be bought by Cobham for £35.00 per share in cash.

Meggitt (LON:MGGT) – Meggitt board continues to recommend offer by Parker-Hannifin (NYSE:PH) and publishes scheme document for the deal. The Panel will announce the deadline by which Transdigm (NYSE:TDG) must clarify its intentions in relation to Meggitt.

Future PLC (LON:FUTR) – Acquired consumer media subscriptions business Dennis for approximately £300 million.

Londonmetric Property (LON:LMPL) – Sold 785,000 square foot Primark distribution warehouse in Northamptonshire for £102 million.

Audioboom (LON:BOOMA) – Extension of deadline following discussions with All Active Asset Capital Limited (AAA) by which AAA must either announce a firm intention to make an offer or announce it does not intend to make an offer.

Morrisons (LON:MRW) – CDR is reportedly “gearing up” to make a better offer for Morrisons. The PE group has until Friday to make a higher offer or walk away. (Times)

Lloyds (LON:LLOY) – Charlie Nunn will begin as Group Chief Executive Officer and Executive Director from today.

Provident Financial (LON:PFG) – Upgraded to hold from reduce by Peel Hunt.

Sectors

Oil & Gas – WTI and Brent crude prices both lower amid rising Covid cases in Asia Pacific region. Separately, Friday’s Baker Hughes US rig count showed the largest weekly increase in oil rigs since April.

UK update – House prices fall for first time in 2021, BHP to exit petroleum?

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

LEAVE A REPLY

Please enter your comment!
Please enter your name here