FTSE 100 Tipped to Fall After Downbeat Asia Trading
0634 GMT - The FTSE 100 is expected to open 23 points lower at 7585, according to CMC Markets, after mostly downbeat trading in Asia and a broadly flat close on Wall Street. Stocks in mainland China, Australia and Hong Kong trade lower while Japan's Nikkei 225 edges 0.1% higher. The Dow closed largely unchanged Monday at around 32916. "As the U.S. session progressed, the move above the 3% level on the U.S. 10-year yield saw the gains in U.S. stocks start to slow, as we got a pull-back from intraday highs," CMC analyst Michael Hewson says in a note. "This pullback has translated into a softer European open, as once again investors fret about how high rates might go." (email@example.com)
Ted Baker Says Preferred Party for Sale Drops Offer
Ted Baker PLC said Tuesday that it has been notified that its undisclosed preferred counterparty is no longer taking part in its sale process and that it is now reviewing other proposals.
Pearson to Sell Courseware Businesses in Italy, Germany for GBP163M
Pearson PLC said Tuesday that it has agreed to sell its local K12 Courseware businesses in Italy and Germany to Sanoma Corp. for 163 million pounds ($204.3 million) as part of its strategic review.
Biffa Receives $1.7 Bln Takeover Offer From Energy Capital Partners
Biffa PLC said Tuesday that it has received a takeover proposal from private equity firm Energy Capital Partners, LLC which values the company at 1.36 billion pounds ($1.70 billion).
EQT Private Equity, Mubadala to Buy Envirotainer
Swedish private-equity firm EQT AB on Tuesday said that its EQT Private Equity unit and Mubadala Investment Co. will acquire Sweden's Envirotainer from Cinven Group Ltd. and Novo Holdings, in a deal with an enterprise value of around 2.8 billion euros ($2.99 billion).
LoopUp Swung to 2021 Pretax Loss After Tough Pandemic Comparables
LoopUp Group PLC said Tuesday that it swung to a pretax loss for 2021 after the previous year benefited from a material spike in the Remote Meetings business at the onset of the Covid-19 pandemic.
Biffa Investigated by HMRC on Tax Concerns
Biffa PLC said Tuesday that it is currently the subject of an enquiry by the U.K. HM Revenue and Customs department regarding potential misclassification of waste across the industry and landfill tax compliance.
Miners to Benefit From Recovery in Chinese Demand
0557 GMT - Following a period of very weak Chinese demand for commodities, recent evidence of a shift in policy suggests that the government has become more focused on the economy, Jefferies says in a note. The bank is cautiously optimistic that a slow recovery in Chinese demand is coming. Reflecting this improving outlook for China, Jefferies raises price forecasts for coal and iron ore, and upgrades to buy its recommendation on Anglo American, Rio Tinto, BHP, Vale, South32, Arch Resources, Peabody Energy, Warrior Met Coal and Ramaco. "Macro risks are still clearly elevated as an economic hurricane could be coming, but we would buy the miners to ride out the storm and maximize leverage to the subsequent recovery," Jefferies says. (firstname.lastname@example.org)
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(END) Dow Jones Newswires
June 07, 2022 03:07 ET (07:07 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.