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☆ Morgan Stanley's Slimmon names 3 stocks to buy right now: ‘It's going to be a good year for equities'
▼ + stars: | 2024-02-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

The rise in the index has raised some concerns over valuations, but Morgan Stanley's Andrew Slimmon has a more positive take on the recent market moves. Microsoft In the tech sector, Slimmon named Microsoft as his choice to play the AI boom. This gives it around 16.3% potential upside. The average price target for Ameriprise is $418.03, according to FactSet data, giving it potential upside of around 5.1%. This gives it around 4% upside potential.

Persons: Morgan Stanley's Andrew Slimmon, CNBC's, Slimmon, Ameriprise Slimmon Organizations: Morgan Stanley Investment Management, Microsoft, Ameriprise, Apple, Meta, Nvidia, Tesla, New York Stock Exchange, Euronext, London Stock Exchange Locations: Dublin, Euronext Dublin, U.S

☆ As London loses another listing, analysts are wary of writing off the UK capital
▼ + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The offices of London Stock Exchange Group Plc, right, in Paternoster Square in the City of London, UK. Bloomberg | Bloomberg | Getty ImagesLONDON — TUI became the latest company to ditch its share listing in London, as shareholders voted overwhelmingly for the German travel giant to list solely in Frankfurt. Around 77% of transactions in TUI shares are currently settled via Germany, with the U.K. now accounting for less than a quarter. U.K. stocks are trading at a considerable discount to the rest of Europe, having suffered an investor flight in recent years. London still a contender London has also suffered a number of de-listings and high-profile IPO snubs over the past year.

Persons: TUI, Frankfurt's, Mathias Kiep, London, SoftBank, Rishi Sunak's Organizations: London Stock Exchange Group, City of, Bloomberg, Getty, London Stock Exchange, CNBC, Nasdaq Locations: Paternoster, City, City of London, London, Frankfurt, Hannover, Germany, TUI, Europe

☆ TUI was approached last summer by shareholders over dual listing in London, CFO says
▼ + stars: | 2024-02-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTUI was approached last summer by shareholders over dual listing in London, CFO saysTUI CFO Mathias Kiep discusses the TUI shareholder's vote to delist from the London stock exchange.

Persons: TUI, Mathias Kiep Locations: London

☆ European travel giant Tui will leave the London Stock Exchange
▼ + stars: | 2024-02-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Tui, one of the world’s largest travel agencies, will leave the London Stock Exchange in June — the latest blow to the British capital’s longstanding reputation as the undisputed leader of Europe’s stock markets. Shareholders in the German company, which is dual-listed in London and Frankfurt, voted Tuesday to delist the firm from the London Stock Exchange. The company expects to cancel its shares on the London Stock Exchange in late June. A Tui cruise ship in Malaga port in June 2021. Jorge Guerrero/AFP/Getty ImagesHeadquartered in Hanover, Tui owns more than 400 hotels, 16 cruise ships, five airlines and 1,200 travel agencies.

Persons: London CNN —, Tui, Mathias Kiep, “, ”, Delphine Currie, Reed Smith, Jorge Guerrero, “ It’s, ” Kiep, Sebastian Ebel Organizations: London CNN, London Stock Exchange, Shareholders, ARM Holdings, …, Getty, Revenue, Canaries Locations: London, Frankfurt, United Kingdom, Germany, New York, “, Amsterdam, Paris, Malaga, AFP, Hanover, Tui, Israel, East, Egypt, Cape Verde, Mexico, Thailand, Dominican Republic, South Africa, Red Sea, Yemen

☆ Superdry shares soar more than 100% as company considers going private
▼ + stars: | 2024-02-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — Superdry shares soared more than 100% on Friday, as the embattled British fashion retailer confirmed that co-founder and CEO Julian Dunkerton is considering taking it private. The stock peaked at 48.55 pence per share shortly before 11 a.m. London time and was last trading at around 46p per share. A recent slump in sales and a falling share price have led to speculation that Superdry, which listed on the London Stock Exchange in March 2010, may become a takeover target. The company confirmed in a market update on Friday that Dunkerton had requested "permission to begin exploring the possibility of making an offer for the company," and to begin talks with potential financial backers, which the business accepted. Dunkerton has until March 1 to submit an offer or walk away under the U.K. Takeover Panel's regulations.

Persons: Julian Dunkerton, Dunkerton, Superdry Organizations: London Stock Exchange, Company Locations: British, London, Norwegian

☆ 'Big opportunity': One pro names his top energy stocks for the long and short term
▼ + stars: | 2024-02-02 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Energy stocks have had a mixed start to the year as ongoing geopolitical uncertainties and fluctuating oil prices continue to affect the sector. One chief investment officer, however, sees potential in oil, naming one immediate and one longer-term investment opportunity. "It's [a] deepwater oil play, very long life there. "We think that there will be some players that will [be the] last folks standing in that game, and we think Petrobras will be one of those." Longer-term play A longer-term play on Jones' radar is Australian petroleum player Woodside Energy , which trades on the Australian and London Stock Exchanges as well as the Nasdaq.

Persons: Jevons Global's Kingsley Jones, CNBC's, Brazil –, Jones Organizations: Petrobras, New York Stock, Woodside Energy, London Stock Exchanges, Nasdaq, Santos Locations: Brazilian, Brazil, Europe, Woodside

☆ The CEO of FanDuel's owner Flutter explains how its US stock debut could boost its edge over rivals like DraftKings and why it thinks of itself as a media business
▼ + stars: | 2024-01-31 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "It's a great opportunity to bring the world's leading sports betting and gaming business to the world's leading capital market." AdvertisementJackson said he believes the US listing will help the company win media attention and new investors. DraftKings narrowly edged out in August FanDuel's market-share lead in the broader online gambling space that includes casino-style games, per EKG. "FanDuel is undoubtedly a media business," Jackson said.

Persons: —, Peter Jackson, Jackson, Paddy Power, it's, DraftKings, FanDuel, Pat McAfee, Charles Gillespie, Chad Beynon, Beynon Organizations: Service, New York Stock Exchange, Wall, Business, PokerStars, London Stock Exchange, Krejcik, Penn, ESPN Bet, Media, TVG, Gambling.com Group, Macquarie, Wall Street, Rush Street Interactive, Caesars Entertainment, Genius Sports, Research, Jefferies Locations: New York, London, Europe, Sportsbet, Australia, America, Sands

☆ FanDuel-parent Flutter to list on the NYSE, challenging DraftKings as sports-betting pure play
▼ + stars: | 2024-01-29 | by ( Contessa Brewer | ) www.cnbc.com time to read: +1 min

FanDuel-parent Flutter lists on the New York Stock Exchange Monday, offering U.S. investors an alternative to the biggest pure play in sports betting, DraftKings . But Flutter's most important market for revenue and growth is the United States, where FanDuel is the market share leader. In the fourth quarter, FanDuel had 43% market share based on gross revenue and 51% based on net revenue. But while FanDuel outperforms its competitors, its biggest rival DraftKings grabs the headlines and spotlight in earned media as the biggest (some might argue, the only) publicly traded pure play in sports betting. Shares of DraftKings have soared more than 150% over the last 12 months and are up 9% year to date.

Persons: FanDuel, DraftKings Organizations: New York Stock Exchange, London Stock Exchange, NYSE Locations: United States, FanDuel

☆ Goldman Sachs likes this under-the-radar European sector, naming 2 stocks with almost 40% upside
▼ + stars: | 2024-01-26 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Europe's power grid is in dire need of an upgrade, Goldman Sachs says, naming two stocks it expects to benefit from the network's expansion and modernization. "Power grids sit in the sweet spot of electrification: besides an accelerating top line, we highlight attractive risk-adjusted returns, which are usually set on a 'cost plus' basis." Stock picks Goldman Sachs said the way to play this theme is through pure plays and green energy majors. The green energy industry has had a tough time of it since 2021 as global central banks hiked interest rates in an effort to combat inflation. "We believe power network activities represent an incremental leg in our re-rating thesis for Green Energy Majors," Goldman's analysts added, naming Enel and SSE as buy-rated stocks.

Persons: Goldman Sachs, Alberto Gandolfi, Stock, Goldman, — CNBC's Michael Bloom Organizations: Clean Energy ETF, Energy Index, Green Energy, Milan Stock Exchange, London Stock Exchange, Global Renewable Energy Locations: Europe

☆ Profits Comeback Paired With Rate Cuts Make a Powerful Mix
▼ + stars: | 2024-01-16 | by ( Justin Lahart | ) www.wsj.com time to read: +1 min

Soft landing the U.S. economy is like an economic nirvana: inflation is low and the job market is strong. WSJ’s Nick Timiraos explains why and how the Federal Reserve is trying to make one happen. Photo illustration: Ryan TrefesProfits are growing again, and the Federal Reserve looks as if it will start cutting rates sometime this year. It is an unusual combination and, for the stock market, possibly a potent one. It is early days still, but the rebound in profits that began in the third quarter looks poised to continue.

Persons: Nick Timiraos, Trefes Organizations: Federal Reserve, Federal, London Stock Exchange Group

☆ Six arrested over plot to disrupt London Stock Exchange by Palestinian Action group
▼ + stars: | 2024-01-15 | by ( Max Foster | ) edition.cnn.com time to read: +2 min

London CNN —Six people were arrested Sunday over a suspected plot to disrupt the London Stock Exchange (LSE) when the market opened for trade Monday, London’s Metropolitan Police has said. It was alleged that activists from the Palestine Action group intended to target the exchange on Monday morning to cause damage and prevent it from “opening for trading,” according to a statement from the police force. The LSE hasn’t had a physical trading floor since 1986, with all equities trading taking place electronically. Palestine Action is a British-based activist group that aims to disrupt the operations of weapons manufacturers supplying the Israeli government. Having only been provided with the material on Friday afternoon, we had limited time to act.”The London Stock Exchange declined to comment on the matter.

Persons: Israel ”, “, Sian Thomas, ” “ Organizations: London CNN —, London Stock Exchange, London’s Metropolitan Police, Metropolitan Police, Daily Express, Palestine, LSE hasn’t, LSE, Merseyside Police, Express Locations: Palestine, British, Israel, Liverpool

☆ Police arrest pro-Palestine protestors for 'locking on' plot to shut down the London Stock Exchange
▼ + stars: | 2024-01-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

The logo of London Stock Exchange Group Plc in the office atrium in the City of London, UK, on Tuesday, March 14, 2023. London police on Sunday arrested six pro-Palestine activists for alleged plans to lock themselves to the doors of the London Stock Exchange to attempt to disrupt trading amid the ongoing Israel-Hamas war. The six Palestine Action protestors, all in their 20s or early 30s, planned to stage a week of protests, starting Monday morning. The activists intended to start their week of protests on Monday morning by chaining their necks to the doors of the London Stock Exchange to prevent anyone from entering, according to the Express' report published Sunday. They also planned to spray fire extinguishers and shoot fake bank notes painted red out of "money guns" around the stock exchange, according to the Express report.

Persons: Sian Thomas Organizations: London Stock Exchange Group, City of, London, Sunday, Palestine, London Stock Exchange, Daily Express, Express, Metropolitan Police, Israel Defense Force, Hamas, London's Metropolitan Police Force Locations: City, City of London, Israel, Palestine, Gaza, London

Here are 6 signals investment bankers are watching as they pray for an M&A rebound in 2024. By contrast, activity from private equity firms "was off almost 40%," he said. In 2021, private equity firms transacted $1.5 trillion across 2,869 deals, according to Dealogic. Last year, private equity M&A made up 40% of total activity, according to Goldman Sachs. AI companies, many of which are only now being formed, need to mature, and the winners and losers need to come into focus, bankers said.

Persons: Wall, LSEG, Goldman Sachs, Vito Sperduto, Sperduto, we've, Stephan Feldgoise, Hess, Anthony J, Carfang, Cash, Goldman, Goldman's Feldgoise, Feldgoise, Mark Sorrell, I'm, Harold M, Lambert, Jerome Powell, Greg McBride, McBride, Jonathan Gray, dealmaking, Gray, Rob Chisholm, Chisholm Organizations: Fed, London Stock Exchange, Business, RBC Capital Markets, Conference Board, Conference, Federal, Goldman, Federal Reserve, Private, Bankers, DOJ, FTC, Federal Reserve Board, Bankrate, of Labor Statistics, Cisco, LSEG, Qatalyst Partners, Citi, & $ Locations: LSEG, Ukraine

☆ London stock market trading resumes after small cap outage
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. "Impacted securities are now in regular trading," LSEG said in a notice published on its website. FTSE 100 (.FTSE), FTSE 250 (.FTMC) and International Order Book securities - shares listed in London by overseas companies - had continued to trade normally, the exchange said. It is the second time LSEG has flagged a disruption to trading in smaller stocks on the London market in less than two months. In 2019, the London Stock Exchange suffered an almost two-hour outage that hit FTSE 100 and midcap stocks, which LSEG said was caused by a “technical software issue”.

Persons: Toby Melville, LSEG, Thomson, Danilo Masoni, Alun John, Amanda Cooper, Kirsten Donovan Organizations: London Stock Exchange, REUTERS, Tullow, CMC, FTSE, Thomson Reuters, Reuters, Thomson Locations: Canary Wharf, London, Britain, LSEG

☆ UK's FTSE 100 lags regional peers as banks, insurers fall
▼ + stars: | 2023-11-29 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +3 min

The blue-chip FTSE 100 (.FTSE) index dipped 0.1%, while the pan-European STOXX 600 (.STOXX) rose 0.5%. The life insurance sector (.FTNMX303010) fell 0.4%, with Prudential (PRU.L) slipping 0.7% after Deutsche Bank reduced its price target on the stock. Banks (.FTNMX301010) slipped 1.7% following a 2.3% fall in HSBC (HSBA.L), which was the biggest weight on the FTSE 100. Among individual stocks Halfords Group (HFD.L) plunged 21.1% after the bicycles-to-car parts retailer narrowed its annual profit forecast range. Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Andrew Bailey, BoE Governor Andrew Bailey, Eddie Cheng, Banks, Shashwat Chauhan, Dhanya Ann Thoppil, Eileen Soreng Organizations: London Stock Exchange Group, REUTERS, Aviva, Bank of England, Prudential, Deutsche Bank, U.S . Federal Reserve, Allspring Global Investments, HSBC, Halfords, Thomson Locations: City, London, Britain, Europe, United States, Bengaluru

☆ A sale isn't worth it anymore unless you're getting 40% off
▼ + stars: | 2023-11-29 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Many retailers are extending holiday shopping discounts to record levels and for longer periods. To get the best discounts, you might have to head to your nearest mall. To get the best holiday deals, you might have to go to the mall. That worked in the last few years but didn't this year because financially stressed consumers became even more cost-conscious and looked for the best deals, he added. "Retailers moved a lot of those sales earlier than usual, and then it became one big event culminating on Cyber Monday."

Persons: LSEG, —, Jharonne Martis, Martis, Centric Market Intelligence —, Howard Schnapp, Kraig Foreman, CNBC's, Foreman Organizations: Service, Adobe, London Stock Exchange Group, London Stock Exchange, Centric Market Intelligence, Getty, CNBC, Wall Street, Retailers

☆ EU committee backs law to relocate euro clearing from London to bloc
▼ + stars: | 2023-11-28 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Nov 28 (Reuters) - An influential committee of European Union lawmakers voted on Tuesday in favour of a draft law aimed at shifting clearing of euro-denominated derivatives from a post-Brexit London to the bloc. Long a Brexit battleground between London and Brussels, the EU wants better oversight of clearing in euro denominated interest rate swaps bought by EU-based market participants, the bulk of which are cleared by the London Stock Exchange Group in the United Kingdom. EU securities regulator ESMA would also have to become the direct supervisor of clearers based in the EU. LSEG CEO David Schwimmer has said he is "optimistic" that clearing in London for EU customers would continue after that date. EU banks have warned that being cut off from global clearing pools in London would put them at a competitive disadvantage to international rivals.

Persons: Long, Danuta Huebner, David Schwimmer, Huw Jones, Mark Potter Organizations: European Union, EU, London Stock Exchange Group, Deutsche Boerse, European, Thomson Locations: London, Brussels, United Kingdom, EU, Frankfurt, Madrid

☆ London stocks fall as investors await more data; Rolls-Royce shines
▼ + stars: | 2023-11-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London, Britain, March 9, 2020. The exporter-heavy FTSE 100 (.FTSE) fell 0.6% touching a two-week low intraday, while the more domestically-oriented FTSE 250 midcap index (.FTMC) also shed 0.6%. Personal goods (.FTNMX402040) led declines among the major FTSE 350 sectors, with Burberry Group (BRBY.L) falling 2.7% after HSBC reduced the stock's price target. Investors will look ahead to UK mortgage data, inflation prints across the eurozone, and a Personal Consumption Expenditures (PCE) report in the U.S. - the Federal Reserve's preferred inflation gauge - later this week. Man Group (EMG.L) fell 3.2% after Morgan Stanley downgraded the hedge fund manager's stock to "Equal-Weight" from "Overweight".

Persons: Toby Melville, inflation's, Andrew Jones, Janus Henderson, Dave Ramsden, Jonathan Haskel, Pearson, Morgan Stanley, Shashwat Chauhan, Sonia Cheema Organizations: London Stock Exchange Group, REUTERS, Royce, Burberry Group, HSBC, PT Pearson, Man, Janus Henderson Investors, Bank of England's, Thomson Locations: City, London, Britain, U.S, Bengaluru

Here's what you need to know:WHAT ARE CARBON OFFSETS? Supporters of carbon offsets see them as key means to help meet these goals. At the COP26 climate summit in Glasgow, negotiators reached a breakthrough agreement to regulate trading of carbon credits, in schemes first envisioned in Article 6 of the 2015 Paris Agreement. Separate from the offsets trading envisioned under the Paris Agreement, there are two existing types of carbon markets – compliance and voluntary. It is not yet clear how various existing carbon markets might play into the U.N.-run trading scheme, which also would depend on national laws.

Persons: Chris Pryor, Elizabeth Frantz, WHAT'S, Marco Berg, Gilles Dufrasne, IETA, Jake Spring, Kate Abnett, Susanna Twidale, Katy Daigle, Josie Kao Organizations: New England Forestry Foundation, REUTERS, KliK Foundation, BE, Carbon Market Watch, Compliance, European Union, London Stock Exchange Group, Thomson Locations: New, Hersey, New Hampton , New Hampshire, U.S, Glasgow, Paris, U.S ., California

☆ Britain's Hunt broadens push to unlock pension pots for growth
▼ + stars: | 2023-11-22 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

By 2030, the majority of workplace DC savers will have their pension pots managed in schemes of over 30 billion pounds, and by 2040, all local government pension funds will be invested in pools of 200 billion pounds or more," Hunt told parliament. Hunt said such changes could help unlock an extra 75 billion pounds ($93.46 billion) of financing for high growth companies by 2030, and improve returns for pensioners. The British Business Bank will set up a new growth fund for schemes to invest in growth companies, and there will be a consultation on giving the Pension Protection Fund a new role to help consolidate direct benefit schemes, he said. The government also wants to allow certain portions of shares - fractional shares - within ISAs. ($1 = 0.8025 pounds)Reporting by Huw Jones Editing by Frances Kerry and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Jeremy Hunt, Hannah McKay, Hunt, PIMFA, William Wright, Huw Jones, Frances Kerry, Bernadette Baum Organizations: REUTERS, British, London Stock Exchange's, Aquis Exchange, DC, British Business Bank, Local, ISA, Labour Party, Labour, New, Thomson Locations: London, Britain, New York, ISAs

☆ Frankfurt builds up clearing volumes as EU seeks to pull business from London
▼ + stars: | 2023-11-21 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Nov 21 (Reuters) - Deutsche Boerse's (DB1Gn.DE) derivatives arm said on Tuesday that it has been building up volume in its Euribor futures contract in Frankfurt as the European Union vies with London for the multi-billion-euro market post Brexit. The EU wants to significantly relocate the clearing of Euribor futures and euro-denominated interest rate swaps (IRS) out of London, which is now largely cut off from the bloc's financial market and rules since its 2020 exit from the EU. The market had previously been dominated by U.S. rival ICE (ICE.N), with its operations based in London. It is likely that in the initial phase there will be no mandatory minimum clearing volume set for an account, but this could change if not enough clearing shifts. London Stock Exchange Group's (LSEG.L) LCH dominates clearing of euro IRS, a market in which Eurex is also slowly building up clearing volume, and which is being targeted by the Madrid Exchange too.

Persons: Matthias Graulich, it's, Graulich, David Schwimmer, Huw Jones, Sharon Singleton Organizations: Deutsche, European, EU, U.S, ICE, Reuters, London, Exchange, Thomson Locations: Frankfurt, London, EU, Madrid, Brussels

☆ LSEG names Publicis finance chief Michel-Alain Proch as CFO
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: 1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsNov 20 (Reuters) - The London Stock Exchange Group (LSEG.L) on Monday named Michel-Alain Proch as its new finance chief, starting March 1, 2024. Proch, who currently serves as group CFO of advertising group Publicis <PUBP.PA>, takes on the role from Anna Manz, who stepped down in May. Last week, LSEG, which owns London's 300-year old stock exchange, raised its mid-term growth guidance to "mid-to-high single" digits and said it would return a billion pounds to shareholders in 2024 as it looks beyond the integration of data and analytics company Refinitiv. Reporting by Eva Mathews in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Michel, Alain Proch, Proch, Anna Manz, Eva Mathews, Sonia Cheema Organizations: London Stock Exchange, REUTERS, Thomson Locations: Canary Wharf, London, Britain, Bengaluru

☆ Hotel Chocolat's cofounders are about to become $180 million richer after Mars made a takeover bid
▼ + stars: | 2023-11-16 | by ( Chris Johnston | ) www.businessinsider.com time to read: +3 min

Mars is offering almost $700 million to buy Hotel Chocolat. AdvertisementThe cofounders of Hotel Chocolat stand to become about $180 million richer after Mars offered to buy the upmarket chocolatier for £534 million ($673 million.) Thirlwell stands to make £91 million ($112 million) and Harris £53 million ($65 million) from the Bounty and Mars maker's offer. Hotel Chocolat has 131 stores in the UK. Mars would keep the company "special" while helping it grow, Clarke told Bloomberg, including opening more Hotel Chocolat stores in the UK.

Persons: Angus Thirlwell, Peter Harris, —, Thirlwell, Harris, Peter Dazeley, Andrew Clarke, Mars Snacking, Clarke Organizations: Service, British, London Stock Exchange, Bloomberg Locations: British, Chocolat, Chocolat's, Japan, Peel, London

☆ Mars' $662 million acquisition bid sends shares of Britain's Hotel Chocolat soaring 160%
▼ + stars: | 2023-11-16 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — U.S. food giant Mars said Thursday that it will buy British chocolatier Hotel Chocolat for £534 million ($662 million), as the brand seeks to boost its international presence. "We know our brand resonates with consumers overseas, but operational supply chain challenges have held us back. The announcement sent shares of London Stock Exchange-listed Hotel Chocolat soaring more than 160% in early deals to 366.50 pence by 9:30 a.m. local time Thursday. Hotel Chocolat is primarily U.K.-based, with 124 shops domestically and several others overseas. "We are confident that Mars will be an excellent long-term home for Hotel Chocolat, providing a like-minded, entrepreneurial and purpose-led environment in which to maximize the potential of the Hotel Chocolat brand which is already so beloved by consumers," Andrew Clarke, global president of Mars Snacking, said in a statement.

Persons: Angus Thirlwell, Mars, Thirlwell, Andrew Clarke, Mars Snacking Organizations: LONDON, London Stock Exchange, headwinds Locations: Chocolat, U.S, Saint Lucia

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Following the data, yields on short-term UK Gilts, reflecting near-term interest rate expectations, slid, aiding a 7.0% surge in rate sensitive real estate investment trusts (.FTNMX351020). "It may well be due to potential sentiment coming ahead of tomorrow's UK CPI data, with the hope that it comes in lower as well," said Christopher Peters, trading floor manager at Accendo Markets. UK October CPI data, due on Wednesday, could throw further light on the outlook for domestic monetary policy. Reporting by Khushi Singh and Johan M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Christopher Peters, Jefferies, Tim Clark, Khushi Singh, Johan M Cherian, Sherry Jacob, Phillips, Alex Richardson Organizations: London Stock Exchange Group, City of, REUTERS, Vodafone, Federal, tomorrow's, Accendo Markets, Investors, Entain, Royce, Emirates, Thomson Locations: City, City of London, Britain, Teck, U.S, Italy, Bengaluru

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