LONDON MARKETS: LSE Surges As Merger Buzz Lifts London Stocks
29 Julio 2019 - 5:29AM
Noticias Dow Jones
By Steve Goldstein, MarketWatch
The London Stock Exchange Group surged Monday after the exchange
operator announced merger talks, with the takeover chatter buoying
the broader market.
The FTSE 100 rallied 1.22% to 7641.33, the best gain of the
major European stock markets
(http://www.marketwatch.com/story/europe-stocks-nudge-up-on-ma-and-earnings-news-as-lse-surges-while-heineken-fizzles-2019-07-29).
Heavyweight Vodafone Group (VOD.LN) (VOD.LN) extended last week's
gains from announcing it may sell its European towers business,
with shares rising another 4% on Monday.
The M&A news didn't inspire the action across the Atlantic
as U.S. stock futures pointed to a flat start for the Dow Jones
Industrial Average . The U.S. Federal Reserve is due to cut
interest rates on Wednesday, with the markets unsure whether the
rate cut will be a quarter-point or a half-point.
In its first major deal since ex-Goldman Sachs executive David
Schwimmer took the reins as CEO, the London Stock Exchange Group
(LSE.LN) shares jumped 15% as the exchange operator said it's in
talks to buy Refinitiv, owned by Blackstone (BX) and Thomson
Reuters (TRI), in a $27 billion deal to bulk up its offerings of
financial data and infrastructure.
Analysts at UBS, who rate LSE at neutral, said the deal would
lift LSE earnings by 8% in its first year and by 20% in year three,
excluding any refinancing benefits.
Just Eat(JE.LN) jumped 25% to 795 pence after it and
Takeaway.com (TKWY.AE) announced merger talks, in a deal where the
Dutch-listed group would buy the U.K.-listed company in a stock
swap valuing Just Eat, using Friday's closing prices, at 731 pence
a share. Activist investor Cat Rock has stakes in both food
delivery companies and has been reported to be pushing for a
deal.
Ferguson shares (FERG.LN) rose 2% as Sky News reported that
Nelson Peltz's Trian
(https://news.sky.com/story/activist-peltz-wants-plumber-ferguson-to-sell-uk-business-11772459)
has urged the plumbing products distributor to sell its U.K.
business.
(END) Dow Jones Newswires
July 29, 2019 06:14 ET (10:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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