UK market update – Playtech agrees to takeover, Schroders sees increase in AUM

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imageStock Markets9 hours ago (Oct 18, 2021 07:46)

© Reuters.

By Samuel Indyk

Investing.com – At 07:43BST, FTSE 100 Futures are trading lower by 0.4% at 7187.

In FX markets, GBP/USD is trading at 1.3727, EUR/GBP is trading at 0.8432. The US Dollar Index is up 0.2%.

Today’s calendar highlights include US Industrial Production, NAHB Housing Market Index, Canadian Housing Starts, BoC Business Outlook Survey.  

Stocks

National Grid (LON:NG) – UK Electricity Transmission unit expected to see depreciation increase by around £50 million in the full year. Group continues to perform in line with expectations, however H1 underlying earnings per share is expected to see a marginally greater weighting this year versus prior years. 

Playtech (LON:PTEC) – Aristocrat Leisure Limited to buy Playtech for 680 pence per share in cash, valuing Playtech at approximately £2.7 billion on an enterprise value basis.

AstraZeneca PLC (LON:AZN) (NASDAQ:AZN) – Received notification of a mini-tender offer to ADS holders by TRC Capital Investment Corporation. TRC Capital offered to purchase up to 2 million ADSs at a price of $57.88, 4.5% below the closing price on 8th October, the last day before the mini-tender offer commenced. AstraZeneca does not in any way recommend or endorse the TRC Capital offer and recommends that shareholders reject the offer.

Schroders (LON:SDR) – Assets Under Management at 30th September total £716.9 billion, up from £700.4 billion at end of June.

Tesco (LON:TSCO) – Commences its programme to buy back shares with an aggregate market value equivalent of up to £500 million.

Polymetal (LON:POLYP) – The company’s Nezhda gold-silver mine has successfully produced first gold and silver concentrate on October 16th.

National Express (LON:NEX)/Stagecoach (LON:SGC) – The two companies have extended the deadline in relation to the possible all-share combination. Discussions between the parties and reciprocal due diligence remain ongoing. A further statement will be made as and when appropriate.

THG (LON:THG) – CEO Matthew Moulding confirms intention to cancel his Special Share rights which will facilitate the Group’s application to step-up to the Premium segment of the Main Market of the London Stock Exchange in 2022.

Thungela Resources (LON:TGAT) – Full year 2021 export saleable production guidance is moderated to 14.8Mt – 15.2Mt, from 15Mt – 16Mt previously due to a deterioration in rail performance in H2 2021.

Sectors

Utility companies – UK Chancellor Rishi Sunak is reportedly considering cutting VAT on household energy bills.

UK market update – Playtech agrees to takeover, Schroders sees increase in AUM

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