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Monday newspaper round-up: Liberty Steel owner, FCA, rail chiefs, Glaxo
The owner of Liberty Steel has pledged to restart its plants in Rotherham and Stocksbridge in South Yorkshire this month, saving the “substantial majority” of 1,000 jobs, by pumping £50m in cash into the business. The move comes after Sanjeev Gupta’s conglomerate, GFG Alliance, said it had refinanced debts at its Australian steel and mining business. - Guardian.
FTSE 250 movers: Britvic loses its fizz; XP Power gains
London’s FTSE 250 was down 0. 4% at 22,451. 67 in afternoon trade on Monday.
Pacira to buy Flexion Therapeutics in $427.5m deal
Shares of Flexion Therapeutics surged on Monday after it agreed to be bought by Pacira BioSciences in a $427. 5m deal.
London midday: Stocks tick higher as mining sector gains
London stocks were still a little firmer by midday on Monday, underpinned by a strong performance in the mining sector, as investors shifted their attention to the inflation outlook.
FTSE 100 movers: Miners boosted by rising metals prices; Ocado in the red
London’s FTSE 100 was up 0. 5% at 7,131. 00 in afternoon trade on Monday.
Peel Hunt downgrades Asos, cuts price target after profit warning
Peel Hunt downgraded its stance on Asos on Monday to ‘add’ from ‘buy’ and slashed the price target to 5,000p from 6,500p after the online fashion retailer announced the departure of its chief executive and warned on profits.
RBC Capital downgrades Britvic, slashes price target
Britvic shares fizzed lower on Monday after RBC Capital Markets downgraded the drinks maker to ‘sector perform’ from ‘outperform’ and slashed the price target to 870p from 1,060p, citing mounting headwinds.
Asos warns on profits as CEO Nick Beighton steps down
Asos said in a surprise announcement on Monday that chief executive Nick Beighton has stepped down with immediate effect, as it warned over profits, sending shares in the online fashion retailer tumbling.
London open: Stocks in the black as miners rally
London stocks edged up in early trade on Monday, underpinned by a strong performance in the mining sector, as investors shifted their attention from the US jobs report last week to the inflation outlook.
London pre-open: Stocks seen muted as attention shifts to inflation
London stocks were set for a muted open on Monday as investors shift their attention from the US jobs report to the inflation outlook.