Currency markets were broadly flat overnight with the euro trading at $1.1635 and the pound at $1.2982. That still means that UK sterling remains at an eight-month low against the euro while the euro remains at a two-year high against the dollar. As expected, ECB boss Mario Draghi held interest rates at 0% yesterday.
Despite a recent US-China trade meeting ending in failure, China has agreed to allow imports of US rice. So some encouragement on agricultural trade, at least.
Meanwhile a Goldman Sachs exec is urging a Brexit ‘transitional deal’ according to the BBC this morning in an attempt to prevent a jobs exodus from the UK to Europe. Not a lot happening on the economic data front today though UK public sector net borrowing numbers arrive at 9.30am.
- UK FTSE 100 7,487.87 +0.77%
- Dow 21,611.78 -0.13%
- S&P 500 2,473.45 -0.02%
- Nasdaq 6,390.00 +0.08%
- Nikkei 225 20,108.31 -0.18%
- DAX 12,447.25 -0.04%
- CAC 40 5,199.22 -0.32%
- Gold 1,251.60 -0.04%
- Oil WTI 46.73 -0.83%
After Worldpay’s £9.1bn Vantiv deal at the start of the month, another takeover offer for the UK payments industry. Payments operator Paysafe has received a bid from two private equity players, Blackstone and CVC Partners, valued at 590p.
“The terms of the Possible Offer,” said Paysafe in a statement this morning, “represent a premium of approximately 34% to the volume weighted average price for the six month period ended 30 June 2017.” Paysafe confirmed it was approached by the private equity consortium in May. Its biggest shareholder, Old Mutual, is supporting the offer.
We move onto an update from Homeserve for the 1 April – 20 July trading period. Though few numbers were available Homeserve claims its UK business “is performing as anticipated” while claiming strong US momentum.