FTSE 100 Live: London’s blue chip index ends the day higher

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live update

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FTSE ends at 100-day high, and hotel firms demand

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The FTSE 100 closed 24.05 points or 0.33% higher at 7310.37 on Thursday, with holiday-focused firms in demand.

Michael Hewson, chief market analyst at CMC Markets UK, said London’s blue chip index was “helped by some decent performances by the likes of Holiday Inn owner IHG and Premier Inn owner Whitbread, both of which were at the end of a broker upgrade by 2022. optimism on a rebound in demand”.

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Shares of IHG were up more than 2.5% and Whitebread rose 84p to 3108p.

On the UK-focused FTSE 250, risers included pub firm Michels & Butler. Shares rose 8.4p to 244.4p after reporting a sell-like increase in recent trading following behind-the-scenes trading of All Bar One Chain.

Vivo Energy saw the biggest gain with shares up 18.49%, or 20.6p, at 132p.

This came after backing a £1.7 billion takeover. Energy trader Vitol got board support for the acquisition at a 25% premium.

That’s all from the Evening Standard City Desk today. We will come back tomorrow.

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Cybersecurity organization BrandShield – which swarms the Internet searching for copycat websites and brand abuse – has identified Nike, PlayStation and Apple as the most targeted.

Scammers register domains for big-name brands that contain everyday spelling mistakes, in order to trick unsuspecting shoppers into handing over their credit card details.

Brandshield said it is seeing record activity this year.

full story here

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Skillcast plans to float in London’s junior AIM market

Skillcast, an e-learning and compliance training firm whose products support hybrid working, intends to float the junior AIM market in London.

The London-headquartered company wants to start trading on AIM from December 1. It has raised £3.5 million conditional on entry, and is expected to be worth £33.1 million.

Skillcast, which employs 80 people, offers software and e-learning courses that keep workers up to date with compliance with various laws and regulations related to a particular occupation.

Read more here.

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Metal miner Hochschild bounces back

Shares of mining conglomerate Hochschild jumped more than 25% today after Peru’s government reversed a decision to close two of its largest silver mines.

The U-turn was welcomed by FTSE 250-listed group CEO Ignacio Bustamante, who branded a move to accelerate the “illegal” closure of its Inmaculada and Pallancata operations in the Andean region of Ayacucho.

The announcement by Peru’s newly-installed Prime Minister Mirtha Vasquez wiped nearly £500 million off Hochshield’s market value within minutes of the start of business in London on Monday.

full story here

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Clipper Logistics and Farfetch enter new joint venture

Farfetch is working with Clipper Logistics on a joint venture

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Farfetch is working with Clipper Logistics on a joint venture

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Clipper Logistics has teamed up with fashion retailer Farfetch to launch a luxury goods specialist delivery and return business with huge growth potential, as well as a slew of shoppers shopping online.

The joint venture is expected to begin early next year.

Clipper already works with Farfetch in the UK and Holland, which sells products on its site on behalf of brands like Jimmy Choo and Prada.

But the new partnership will also provide services to retailers that are not sold through Farfetch, or the firms on the website, but currently do their own warehousing.

Read more here.

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Remy Cointreau brings excitement to the market

Africa’s Vivo Energy, which entered the London stock market in 2018 to much fanfare, today pulled out after backing a £1.7bn acquisition.

The FTSE 250-listed business, which sells Shell-branded fuels and lubricants at more than 2,400 filling stations, was initially valued at £2 billion after the UK’s largest flotation of an African company for a decade.

The 2018 listing marked Vivo’s debut from companies on the London Stock Exchange in the Inspire Africa report, which highlighted the city’s potential as a funding partner for African issuers.

It emerged today that Vivo’s stock market stagnation is already coming to an end after energy trader Vitol received board support to acquire it at a 25% premium.

Vitol, which is the largest shareholder of the company that founded Vivo with Shell and private equity partner Helios in 2011, made its first acquisition approach in February.

Russ Mold, investment director at AJ Bell, said: “The Vivo story, driving the distribution and marketing of Shell and Engen petroleum products across Africa, never really gained traction.”

Shares of Vivo rose 21.4p to 132.8p in one session when the FTSE 250 index climbed 68.32 points to 23,235.04.

The FTSE 100 index rose 12.77 points to 7298.79 as European markets made progress despite ongoing concerns over the economic impact of further COVID-19 lockdown restrictions.

Traders raised a toast to Remy Cointreau when he raised his financial guidance on the back of strong cognac sales in China and the US, sending his shares 10% higher in Paris.

The better-than-expected update started buying shares of London-listed Diageo, with Guinness and Smirnoff maker trading 25p higher at 3,900p.

In a session when volumes were down in the United States due to the Thanksgiving holiday, Tesla and Alibaba backer Scottish Mortgage Investment Trust and cyber security firm Darktrace gained more than 1%.

Vodafone was the biggest drop in the top flight, dropping 4% as its shares began trading without rights to an interim dividend announced two weeks ago.

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Wendy’s plans for UK expansion

American burger chain Wendy’s is looking to open another 50 sites in the UK, following the success of its recent return to the country.

The fast-food chain is also eyeing a move to France, Germany and Spain.

After leaving the UK in 1999, Wendy’s recently returned with restaurants in Reading, Stratford, Oxford, Croydon and Romford. It also opened five dark kitchens to offer delivery on food platforms including Deliveroo and Uber Eats.

Wendy’s Chief Development Officer Abigail Pringle said the sale has proven so popular that the company is looking to expand further.

She said: “We’ve seen incredible success that outperforms our expectations, and it’s clear to us that customers are loving our fresh, high quality food.”

New locations planned for 2022 include Brighton, the Midlands and are under discussion with franchise partners in Scotland, Wales, Northern Ireland and the Republic of Ireland.

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Hochschild Mining Rebound, Vodafone Come

Markets in Europe are struggling for momentum as investors worry about the prospect of renewed Covid-19 lockdown restrictions.

Germany’s Consumer Sentiment Index echoed these concerns, as the latest reading fell more than expected to its lowest level since June.

The FTSE 100 index was largely unchanged at 7,290, with trading volumes lighter than normal due to the Thanksgiving holiday in the US.

Vodafone was the biggest drop in the top flight after its shares began trading without the right to an interim dividend announced two weeks ago.

There was more for investors to watch in the FTSE 250 index, where Hochschild Mining rebounded 20% after the Peruvian government clarified its position on a potential mine closure. Africa’s Vivo Energy also rose by more than a fifth after backing the takeover offer.

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Vivo Energy backs acquisition of £1.7bn

FTSE 250-listed Vivo Energy, which sells Shell and Engen branded fuels and lubricants in Africa, is set to be acquired after backing a $2.3 billion (£1.7 billion) deal.

Energy trader Vitol owns a 36 per cent stake in Vivo and has received backing from a fellow founding shareholder, private equity firm Helios, for a proposal for a 25% premium over last night’s price.

Vitol, which made its first acquisition approach in February, co-founded Vivo Energy with Shell and Helios in 2011. Since then, the business has expanded its network of service stations to over 2,400 and also exports lubricants to several African countries.

It generated $8.3 billion (£6.2 billion) in revenue and $246 million (£184 million) in profits in the year before the pandemic.

Vitol’s operations include refining capacity of more than 480,000 barrels per day, while it also owns or markets approximately 6,500 retail service stations.

Chris Beck, Head of Origin, said: “Since we founded Vivo with Helios and Shell, we believe in the potential of the business and are excited to have it as a pillar of our strategy in Africa within the Vitol family “

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Fed minutes reveal inflation concerns

The FTSE 100 index is expected to open 15 points higher at 7301, having closed for the third consecutive session yesterday.

Resilience in the energy sector was helped by performance after oil prices traded near a one-week high, while demand for telecommunications and utilities were on the defensive amid fears over the potential and economic impact of lockdown measures in Europe.

Cyclical plays such as leisure and automotive stocks continued to decline recently.

Wall Street ended on the front foot last night before traders left for the Thanksgiving holiday. The tech-laden Nasdaq, which was under pressure earlier this week on fears of a hike in US interest rates, was up 0.4%.

Minutes from the US Federal Reserve last night showed policymakers are concerned about rising prices and their impact on the US economy, with some aiming to reduce the $15 billion a month faster than they agreed two weeks ago. requested.

Michael Hewson, chief market analyst at CMC Markets, said: “Over the…

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