Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There’s a note out from Experian [LON:EXPN] this morning in response to media speculation around its Brazilian subsidiary Serasa. Comments over the weekend suggest that personal data is being offered illegally for sale on the internet, although as the company’s note states, the details include things like vehicle registration numbers and photographs, attributes not collected or held by the business. The investigation is however ongoing so this could result in some volatility in early trade.
Begbies Traynor [LON:BEG] is a company worth watching. The insolvency specialist has failed so far to benefit from the economic turmoil as a result of government support packages. They expect a significant period of catch up when stimulus deals expire but have today announced the acquisition of chartered surveyors Hargreaves Newberry Gyngell. This improves the scale and reach of the company’s property services division – something that could be pushed back into focus as the business rates holiday moves closer to expiry and commercial landlords grow increasingly vocal over the slack they have been forced to cut for tenants.
Many green energy stocks found themselves in favour at the end of last year so it’s interesting to see Drax Group [LON:DRX] announcing it intends to purchase Canada’s Pinnacle Renewable Energy for £226m. 31% of shareholders have supported the move already, but the offer is at a mere 13% premium to Friday’s closing price. For such an in-vogue sector, it will be interesting for peers to see if sufficient support can be realised at this price
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