Shares News

Shares in cheese and spread maker Dairy Crest Group (DCG) are top of the FTSE 350 today, up 13% to 625p after the firm agreed a £975m cash bid from Canada’s Saputo. Shareholders in Dairy Crest will receive 620p per share, a premium of just under 12% to last night’s closing price and a 27% premium to the 30-day average price. The Cathedral City and Clover maker is ‘an attractive ...

Around $3bn is expected to be wiped off legendary investor Warren Buffett’s holding firm Berkshire Hathaway later today after Kraft Heinz revealed an accounting investigation and $15.4bn write-down amid other issues. Buffett owns a 26.7% stake in Kraft Heinz via Berkshire Hathaway, which itself reports results on Friday. Global investment firm 3G Capital, which has a history of partnering up ...

Getting a slug of free cash appears is going down well with investors in challenger bank Metro Bank (MTRO). The high street business revealed today that it has been awarded £120m from the Banking Competition Remedies (BCR) scheme. The £775m BCR fund was belatedly launched last year by Royal Bank of Scotland (RBS). It was part of the deal struck with the UK government as part of its bail-out ...

Shares in academic publisher Pearson (PSON) are down 1.2% to 872.8p in mid-morning, reversing earlier gains of more than 3%, as investors digest 2018 results. Today’s share price action replicates in microcosm what has happened to the stock of late. The company was one of the top FTSE 100 performers in 2018 as investors looked to a recovery in its fortunes after structural challenges had led ...

Retail shareholders in Provident Financial (PFG) might have been jumping for joy initially at the news that the company has received a bid, but on closer inspection there’s little to get excited about. Subprime lender Non-Standard Finance (NSF) has made an all-share offer which values Provident at no more than last night’s closing price of 511p. Provident shareholders are being ...

Investors have a couple of interesting takeovers to concentrate on in early trade on Friday as lender Provident Financial (PFG) and Cathedral City cheese maker Dairy Crest (DCG) recommend bids to shareholders. Provident, the £1.3bn business behind Vanquis credit cards, accepts a £1.3bn offer tabled subprime lending peer Non-Standard Finance (NSF). Interestingly, NSF was founded in 2014 by ...

Shares in insurance underwriters Beazley (BEZ), Hiscox (HSX) and Lancashire Holdings (LRE) have risen sharply this week after the industry got an early all-clear from regulators. The UK's Financial Conduct Authority (FCA) published its final report earlier than expected having concluded that its probe into pricing across the insurance underwriting sector found no evidence of ‘risk of ...

Shares in gambling firm Playtech (PTEC) have rallied 5.5% to 388.4p after it predicted that earnings for the year to 31 December 2019 will beat expectations as long as its Asian business contributes. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to reach €390m to €415m, beating broker Shore Capital’s estimate of €380m. Playtech's guidance ...

It’s long been said that the US is a graveyard for the ambitions of UK companies, as retailers Marks & Spencer (MKS) and Tesco (TSCO) found to their cost historically, and online estate agent Purplebricks (PURP:AIM) follows that sorry tradition today as its nascent North American business contributes to a big revenue warning. The shares are currently down 26.5% to 121.1p, paring earlier ...

Shares in McBride (MCB) have risen 3.5% to 90p on rather subdued results for the half year to December. Yet the modest rally follows a plunge yesterday triggered by the private label household-to-personal care products supplier’s profit warning, while shares in McBride are down 60% from five-year peaks around the 230p mark. Led by CEO Rik De Vos, Manchester-headquartered McBride develops and ...