Morrisons Shares Rise As Third-Bidder Circles – Live Updates – .

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Morrisons Shares Rise As Third-Bidder Circles – Live Updates – .


gHello. A third private equity group has expressed interest in an offer on Morrisons, after accepting a £ 9.5bn takeover offer over the weekend.
Apollo said it was “in the preliminary stages of evaluating a possible offer for Morrisons” but no approach had been made.

On Saturday, the supermarket’s board recommended a takeover bid by a consortium led by Fortress. Two weeks earlier, she had rejected an unsolicited offer from Clayton Dubilier & Rice.

5 things to start your day

1) Sainsbury’s cuts prices in war with Aldi and Lidl. Grocers say the introduction of the Aldi price match pledge “is already making a significant difference.”

2) Homebuyers return to major London neighborhoods. Prices in desirable London suburbs soared in June after the exodus from the capital was canceled as the lockdown eased.

3) Centrica ready to invest £ 1.6bn in hydrogen storage site. The site, about 18 miles off the coast of Yorkshire, could create 3 to 4,000 jobs during construction.

4) John Lewis to build 10,000 new homes. Staff could be offered reduced rents, with tenants having the option of furnishing their homes from the store.

5) Compass Pathways agrees to launch magic mushroom drug trials. A company specializing in using the ingredient to treat depression is expanding trials after signing an agreement with an NHS trust.

What happened during the night

Most Asian stocks rose on Monday, extending the rally that took global stocks to an all-time high after a US jobs report signaled the economic recovery remained intact but did not yet warrant an immediate withdrawal of measures stimulus from the Federal Reserve.

Japanese markets, however, turned the tide, with the Nikkei falling 0.5% following an increase in Covid infections in Tokyo, just weeks before the city hosted the Olympics.

The largest MSCI index of Asia-Pacific stocks outside of Japan rose 0.3%, led by a 1% gain in Taiwan. Chinese blue chips added 0.1 pc.

Trading is expected to be thinner than usual, with US markets closed for the extended July 4th weekend

The MSCI All Country World Index closed at a record 724.66 last week and edged up 0.1 pc on Monday.

Futures on the S&P 500 showed a decline of 0.1 bp for Tuesday’s open, after the index closed 0.8 bp higher at a record 4,352.34 on Friday. The Dow Jones Industrial Average rose 0.4% and the Nasdaq Composite added 0.8% to hit a record.

Coming today

  • Annual results: Hipgnose, Artemis Alpha Trust
  • Intermediate results: Provair
  • Economy: Services sector PMI (Asia, United States, United Kingdom)

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