On the final day of trading UK stocks ended the session slightly lower with the blue chip FTSE 100 index and the mid-cap FTSE 250 Index closing down 18 points or 0.25% at 7,385 points and 59 points or 0.25% at 23,481 points respectively.
The latest UK omicron patient admission numbers showed a 32% increase over the last week, while the number of daily infections continues to hover around the 190,000 mark, fanning concerns the government may be forced to impose some form of restrictions in the New Year.
US futures were flat going into the final session of the year as traders prepared for New Year’s eve celebrations. The S&P 500 benchmark has gained 27% this year, far outstripping expectations, and has posted a new all-time high on no less than 70 occasions.
While the FTSE has only returned 14% year to date, this is still its best annual performance since 2016. Industrial stocks have been the main winners, rising 31.5%, while the mining sector is close behind with a 28.5% gain.
MARKET NEWS
Online betting company 888 Holdings (888) said it expected to publish a combined circular and prospectus for the acquisition of the non-US businesses of William Hill, although the release would be delayed until the second quarter of next year.
The company said it also planned a capital raise to fund acquisition, sending shares down 1.7% to 301p.
Shares in asset manager Mercia Asset Management (MERC:AIM) jumped 6% to 37.8p on news of the sale of Faradion for £100 million to Reliance New Energy Solar, with completion expected in early January.
Faradion is a world leader in sodium-ion battery technology providing low-cost, high-performance and sustainable energy storage solutions.
Mercia holds a 16.4% fully diluted direct holding in Faradion and will receive initial unrestricted cash proceeds of £18.6 million, plus a further £0.8 million ring-fenced for three months.
Shares in mining group Anglo Pacific (APF) drifted 0.5% to 134.5p after it announced it had completed the sale of its 1% gross revenue royalty over the Narrabri mine to the operator, Whitehaven Coal for up to $36 million.
The consideration was structured as fixed payments totalling $21.6 million and contingent payments which could generate a further $14 million.
'The completion of the sale of the Narrabri royalty marks the group's exit from thermal coal as we continue to pursue our strategy of increasing our exposure to commodities that support a more sustainable world,' the company said.
The group will release its Q4 2021 trading update in January 2022.
Round Hill Music Royalty Fund (RHM) said it had purchased 100% of a catalogue of 308 tracks from the Richardsons, Jack and his son Garth, made up of producer royalties and neighbouring rights income to timeless classic tracks.
The company also announced the acquisition of the master recordings and music publishing assets from the leading American reggae band Rebelution.
No financial details were provided with today's announcements and the company said it expected to provide further details once the $86.5 million proceeds from the July equity raise were deployed. The shares dipped 0.1% to $1.06.
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