(Bloomberg) — Here’s the key business news from London-listed companies this morning.
Bellway Plc: The rising costs of building a home has been offset by gains in house prices, with reservations ahead of last year.
- The homebuilder says that despite a rising cost of living and rising interest rates, its expects strong demand for its homes this year
Crest Nicholson Holdings Plc: The homebuilder says many of its developments are in areas that benefit from a changing relationship between the home and the office, with many people citing this as a reason for moving home.
- The firm is offsetting rising costs by increasing prices in a market it says has strong demand and “relatively poor levels of supply”
Entain Plc: The gambling firm will buy Dutch online sports operator BetCity for up to 850 million euros, dependent on BetCity’s financial performance this year.
- The companies currently expect the total consideration to be just 450 million euros
Outside The City
Boris Johnson is heading for a fresh fight with his Tories over a plan to override the Brexit deal with the EU.
The plan published yesterday was immediately condemned by the bloc, panned by legal experts and may face stiff opposition in Parliament.
And as the cost of filling up a car in the UK sits at an all-time high, the resulting stretch on budgets across the country is uneven.
In Case You Missed It
Activists are back and UK Plc is their main target in Europe.
London double-decker bus operator Go-Ahead Group Plc accepted a £648 million takeover bid from an investor group backed by Australian rival Kinetic. The offer represents a 24% premium to Go-Ahead’s Friday closing price, the last full trading day before Bloomberg reported takeover interest in the company.
Meanwhile, the value of initial public offerings in London has fallen to the lowest since the global financial crisis:
Looking Ahead
Bookstore chain WH Smith Plc and Harry Potter publisher Bloomsbury Publishing Plc are among the companies scheduled to report earnings tomorrow.
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