Source: Sharecast
STOCKS TO WATCH
The battle for Assura took a new twist on Monday after the healthcare property firm accepted an increased £1.79bn bid from Primary Health Properties only days after recommending a £1.7bn final offer from private equity outfits KKR & Stonepeak. Based on PHP's closing share price of 103.5p on 20 June, the increased offer was 0.3865 new PHP shares and 12.5p in cash.
Instrumentation company Spectris and private equity investor Advent have reached an agreement on the terms of a recommended cash acquisition. Advent will pay £37.63 for every Spectris share, including £37.35 in cash from Bidco and an interim dividend of 28.0p, valuing Spectris at approximately £3.8bn.
Trading platform tech group Plus500 has expanded further into North America after getting the green light from regulators in Canada, lifting the number of its regulatory licences worldwide to 15. Plus500 said the licence, from the Canadian Investment Regulatory Organization, was an "important milestone" and allows it to initiate its services within the over-the-counter market.
NEWSPAPER ROUND-UP
The government is to slash green levies on thousands of businesses, in an effort to bring down sky-high energy costs for firms and boost the manufacturing sector in Labour heartlands. The measure is a key plank of the long-awaited industrial strategy, a 10-year plan to boost sectors ranging from the creative industries to manufacturing. - Guardian
Lenders trying to take control of Thames Water are attempting to thwart environmental campaigners by asking the government to block them from pursuing high court claims. Creditors owed £13.0bn by Britain's biggest water company want ministers to order the Environment Agency to prioritise "environmental betterment over punitive enforcement" – which they believe would "significantly mitigate" the risk of campaigners bringing judicial reviews or private prosecutions. – Guardian
British Airways and Singapore Airlines have suspended flights to Dubai in the wake of US airstrikes on Iran in the early hours of Sunday morning. The UK's flag carrier cancelled its two scheduled flights to Dubai and Doha, the capital of Qatar, that were set to depart from Heathrow Airport on Sunday afternoon, with BA saying no services will operate to or from the Gulf states for the day. – Telegraph
Oil prices will surge above $100 a barrel if Iran blocks the world's most important crude shipping route in retaliation for America bombing its nuclear sites, analysts believe. Iran's parliament voted on Sunday to close the Strait of Hormuz, a crucial chokepoint through which tankers carry about a fifth of global oil supplies. – The Times
US CLOSE
US stocks gave up earlier gains on Friday, with the S&P 500 and Nasdaq falling firmly into the red, amid ongoing uncertainty regarding America's potential involvement in the Middle East conflict.
At the close, the Dow Jones Industrial Average was 0.08% firmer at 42,206.82, while the S&P 500 shed 0.22% to 5,967.84 and the Nasdaq Composite saw out the session 0.51% weaker at 19,447.41.
Reporting by Iain Gilbert at Sharecast.com