Three things you need to know in the financial markets this morning from investment writer, Tony Cross
The shopping centre operator Intu has published a statement today, notifying the market that the bid which had been proposed by a consortium of companies has failed to progress. Citing macroeconomic uncertainty – rather than any fundamental problem with the due diligence process – the news is likely to see Intu’s share price tumble as trading gets underway this morning.
Unilever CEO Paul Polman is to retire from the company at the end of the year. Following his failed bid to remove the company’s dual listing and shift the headquarters to Rotterdam, pressure has been mounting on the boss to leave so this news is unlikely to be much of a surprise to the market. With shareholders having been set against the idea of Unilever quitting the UK, shares may well find some support off the back of this news.
Pub operator Greene King has published half year results this morning and despite the backdrop of economic uncertainty, the numbers appear impressive. The good weather over the summer and England’s run in the World Cup have both helped here, but the company also notes that Christmas bookings are well ahead of where they were a year ago.