8.12am: FTSE stocks start higher
The FTSE 100 has opened the week on the front foot, rising 30 points or 0.4% to 8,292 in initial trades.
Top of the leaderboard is JD Sport, bouncing back 3.3% from the losses on the back of last week’s trading update.
Anglo American PLC (LSE:AAL) shares are up 2.5% on the back of the sale of more Australian coal assets.
Among the mid-caps, ITV PLC (LSE:ITV) has jumped 9% after the weekend stories about it being circled by various potential bidders.
The FTSE 250 index is up over 100 points so far, or 0.5%.
7.57am: Good weekend for ‘Glicked’ box office takings
It’s been a strong weekend for the box office, with big opening ticket sales for Wizard of Oz sequel/prequel Wicked, which have reportedly topped $270 million around the world.
Also, Ridley Scott’s Gladiator follow-up drummed up $106 million in ticket sales.
The combined domestic US takings of the pair, dubbed ‘Glicked’, totalled $201.9 million over their opening weekend, which fell short of the record ‘Barbenheimer’ weekend, when Barbie and Oppenheimer bagged $245 million in summer last year.
7.41am: ITV bid interest reported
ITV PLC (LSE:ITV) is apparently in the takeover crosshairs of several potential suitors, according to a story from Sky News at the weekend.
CVC Capital Partners, RedBird Capital-owned All3Media, Mediawan and a major French broadcaster, thought to be Groupe TF1, are among firms said to be weighing up potential bids.
Sources said firms had held early discussions over a potential bid, but that the broadcaster had not recently been approached formally.
7.32am: Anglo American agrees another sale
Anglo American PLC (LSE:AAL) has struck a deal to offload its steelmaking coal business to Peabody Energy Corporation for up to US$3.8 billion cash, making almost $5 billion from two deal in the coal sector in the month.
The Australian mines are being sold to US coal specialist for an up-front US$2.05 billion on completion of the deal, with up to another US$550 million in quarterly ‘earn-out’ payments based on the price of coal, and another US$450 million to be paid once the Grosvenor mine is reopened and begins selling coal.
If competition and regulatory clearances are received, completion is expected by the third quarter of next year.
7.16am: FTSE 100 to start week on front foot
The FTSE 100 is expected to continue on the front foot on Monday, adding to the strong gains made at the end of last week.
Futures markets have indicated the London index should gain around 14 points at the start of the week, having added 198 points or 2.5% over the past five days to finish at just over 8,262 at the end of the last session.
Asian markets are mixed this morning, with Japan’s Nikkei and India’s Sensex 1.3% and 1.4% higher but the Hang Seng and Shanghai Composite down 0.3% and 0.1%.
Oil prices begin the week in the red, which is likely to drag on the FTSE, with Brent crude down 0.65% to $74.68 a barrel.
Bitcoin, which topped $99.4K late on Friday, dropped back to below $96K yesterday but is back up over $98K this morning.
5am: Financial day ahead
Kingfisher kicks off the week’s proceedings on Monday with a third-quarter update.
Caution around Kingfisher’s outlook is to be expected in its update… Read more
Announcements due:
Trading updates: Kingfisher PLC
Interim results: DSW Capital
US earnings: Zoom Video Communications Inc
AGMs: Artemis Resources, Schroder BSC Social Impact Trust
Economic announcements: IFO surveys (EU)