Themes from April

Sainsbury/ ASDA agreed a merger which will see US Walmart hold 42% of the enlarged group.

April 2018 saw a sharp rebound in UK blue chips which added c. 450 points due to M&A activity, higher commodity prices and declining UK gilt yields.

Glencore had a busy month with CEO Ivan Glasenberg resigning from Rusal following the US move to impose sanctions. Glencore was then sued for $2.95bn by Dan Gertler and freezing orders have been put in place on two of its DRC copper mines.

Takeda Pharmaceuticals fifth proposal to acquire Shire Pharmaceuticals got a tentative nod from the Shire board. The terms are 0.839x Takeda and $30.33 in cash per Shire share.

President Macron admitted that his visit to Washington to persuade US President Donald Trump to keep to the Iran nuclear deal “probably failed”.

Hammerson rejected a revised takeover proposal from Klepierre at 635p per share but facing increasing shareholder opposition then changed its mind on the merger with rival Intu Properties.

Barclays reported Q1 loss of £236m with TNAV declining to 251p from 276p. CEO Jes Staley promised to increase shareholder returns via a share buyback, but did not provide further details.

Read our Newsletter

Get Started with CSS

Open an Account

Subscribe to our award winning daily newsletter

Voted "Best Market Newsletter" in 2012, 2014, 2015 and 2017 by the City of London Wealth Management Awards

Subscribe to our newsletter (Popup)

By signing up to our free email, you are consenting to receive these promotions. The newsletter is sent up to three times per day during the week and up to once per day over the weekend and is directed at UK residents. The newsletter contains company news, market movements, CSS research and promotions and breaking economic news. Occasionally our newsletter will contain advertisements from trusted partners. However, we will never give, sell or rent your email address to any other companies. If you want to stop receiving our free emails you can unsubscribe at any time by clicking on the link at the bottom of each email. You can read our privacy policy here.

No, thank you I am already subscribed