Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. PE buy out set to consume Wincanton
Wincanton LON:WIN has this morning advised the market that it looks set to be the latest to throw in its public listing, having received a private equity bid for 450p per share, some 52% higher than last night’s closing price. The board of directors are recommending shareholders accept the offer, having already rejected other approaches in recent weeks.
The fact that the BoD cite the limited levels of liquidity currently available in the stock as a further justification is telling and does little to help the argument that the London market is struggling.
- UK Stock Market News: Deliveroo, Volution, Trainline
- UK Stock Market News: DFS, Saatchi, Everyman
- Domino’s Pizza sees short trades increasing rapidly
#2. DFS margin improvement maintains profitability
There’s a trading update out from DFS LON:DFS for the 26 weeks to 24th December. Group order intake is down 1.1%, which management see as outperforming a challenging market. Full year profit guidance remains unchanged and although revenue forecasts have been trimmed slightly, progress has been seen in margin improvement.
#3. Deliveroo Q4 numbers bouncing back
Deliveroo LON:ROO has published Q4 numbers, declaring that profitability is ahead of guidance and gross transaction value is on track. Management note a stabilisation of consumer behaviour heading into the year end with a return to growth in overseas markets also being heralded.
