Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. Flutter wagers on full acquisition of Fan Duel – but at a price
Flutter LON:FLTR has this morning announced it has secured the final part of Fan Duel that it didn’t already own. It’s cost more than $1.7bn for the final slice but the Agreement also provides for the extension of the strategic partnership between FanDuel and Boyd at significantly reduced market access costs.
2. Sundae Bar [LON:SBAR] launches BTC treasury strategy
Sundae Bar, a company that recently moved from Aquis to AIM, has this morning announced that following the conclusion of its funding round, the implementation of its Bitcoin Treasury Management strategy is now underway. We have seen a flurry of companies adopting these strategies over the last few weeks and they have often received cheer from the markets – even if this does sometimes prove to be short lived.
3. Q2 update from BP shows impact of falling prices
There’s a trading statement out from BP LON:BP. covering the second quarter which sees guidance being updated. Upstream production is set to be higher than the comparative, although softer oil and gas prices will take a toll that could be as much as $1bn, with average Brent crude prices around 10% lower whilst Henry Hub gas traded around 6% down.
