Market Report
Sunday share tips: Meggitt, Morrissons, Frenkel Topping
Meggitt shares were a 'buy' for the Sunday Times' Inside the City column, after the aerospace technology group revealed it would conduct a sweeping review of operations as sales are predicted to grow. Almost a year and a half after its last profit warning, and seven months since activist fund Elliott Advisors took a 5% stake, Meggitt is a much improved company.
Sunday newspaper round-up: Budget, bank warnings, Marks & Spencer, Sky
Philip Hammond wrote that he will use this week’s budget to build up a £60bn Brexit war chest to boost Britain’s “resilience” to economic turbulence as the UK withdraws from the European Union. The chancellor warned that it would be “reckless” to turn on the spending taps before Brexit in 2019, but will announce a £1. 3bn cash injection for councils to deal with the social care crisis and another £500m for 'T-Levels' technical training, both funded by cuts elsewhere.
Standard Life and Aberdeen AM confirm merger talks
Asset managers Standard Life and Aberdeen Asset Management have announced they are in advanced talks over a possible merger to create an £11bn company with more than £650bn of assets under management.