Three things you need to know in the financial markets this morning from investment writer, Tony Cross
William Hill
William Hill has this morning offered to buy Swedish gaming company, Mr Green. The target is described as a fast-growing, innovative iGaming group with operations in 13 markets and brands including Mr Green and Redbet. It holds remote gambling licences in Denmark, Italy, Latvia, Malta, Great Britain and Ireland and expects to obtain Swedish licences by year end. The deal would give William Hill a foothold across a number of European territories if approved by shareholders. The offer represents a premium of almost 50% over last night’s closing share price for Mr Green.
Next
Fashion retailer Next has issued a trading statement this morning and the third quarter appears to have been somewhat challenging. Full price sales were up 2%, but that sits against 3.7% for the year to date. Online sales continue to grow in the face of a declining physical market and although the company states these numbers are in line with expectations, investors may have been hoping for more.
FCA
The FCA has published a note detailing where it will focus its investigation into the UK’s general insurance market in the coming months. This industry generates £78 billion worth of premiums annually and attention is set to be aimed at ensuring the fairness of pricing. It seems unlikely that the outcome will be positive for the margins made by insurers.
