Worldpay Slumps on Takeover News

Shares in Worldpay slipped by 8.8 percent after the news broke that the company was to be taken over by its U.S. rival, Vanitv.

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shareprices.com - Thursday, July 06, 2017

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Tesco

The company had gotten off to a strong start on Wednesday, after enjoying a 25 percent increase in its share price on Tuesday, but the rise was shortlived, and the takeover talk saw shares plummet on Wednesday afternoon.

Tesco, meanwhile, was the top performer of the day, gaining 3.8 percent after the wholesaler Booker reported some strong sales figures. Tesco has put in a bid to buy Booker, and the deal is currently awaiting approval from regulators.

Meanwhile, the FTSE 100 closed up by 10.37 points, a gain of 0.14 percent, at 7,367.60.

Persimmon gained 2.4 percent, on the back of some strong first-half results. The housebuilder seemed unaffected by the general election jitters that had hampered other parts of the market. Persimmon’s performance has lifted the sector as a whole with Taylor Wimpey and Barratt Developments also trending upwards.

Meanwhile, in the currency markets, the pound was up by 0.11 percent against the dollar, and also by 0.11 percent against the euro, but this slight movement was not enough to impact the markets as a whole. When there are bigger movements in the currency markets, they FTSE 100 tends to move inversely to the value of the pound against the dollar, as so many companies in the FTSE 100 take their earnings in dollars and benefit from the exchange rate.

 

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