The rise (and rise) of the single currency continues: earlier today the pound hit a three-year bottom against the single currency. A massing of Brexit uncertainty was simply uncontainable for a vulnerable-looking UK currency.
Mid afternoon one pound was worth 1.0833 euro. A -0.60% drop. Against the dollar the euro was +0.45% up.
New data from IHS Markit saw a headline eurozone manufacturing purchasing managers index figure climb to 57.4 this month compared to 56.6 this time last month. A much better reading than anticipated. However, going the other way, the services PMI numbers came in at 54.9 compared to 55.4 in July.
The FTSE 100 finished just +0.01% higher at 7,382.65 with share-shattered (yesterday) Provident Financial seeing a 12% gain. Miners Antofagasta and Rio Tinto saw 2% climbs. However marketing and PR giant WPP saw its shares thoroughly wallopped, down almost 11% after it revealed ad spend worries this morning.
- UK FTSE 100 7,382.65 +0.01%
- Dow 21,853.24 -0.22%
- S&P 500 2,447.31 -0.21%
- Nasdaq 6,282.03 -0.25%
- Nikkei 225 19,434.64 +0.26%
- DAX 12,160.71 -0.57%
- CAC 40 5,105.77 -0.51%
- Gold 1,293.60 +0.20%
- Oil WTI 47.84 +0.02
Whole Foods votes for $13.7bn Amazon tie-up
As expected Whole Foods shareholders have approved Amazon’s proposal to take control of the health food chain – for almost $14bn. It’s not expected the deal will get passed till the end of the year. There are still competition hurdles to jump across.
By any measure this is a massive deal and will cause huge anxiety across the grocery sector not to mention stand-alone food delivery services.
Amazon are buying Whole Foods at a 27% premium – $42 a share – over its original June share price. In total Amazon gets 460 bricks-and-mortar stores. There are nine Whole Foods stores in the UK.