Themes from May

Marks & Spencer reported adjusted pre-tax profits of £580.9m down 5.4% for FY18 and held its dividend at 18.7p per share. The company reduced net debt to £1.82bn from £1.93bn.

PM Theresa May struggled to secure the agreement of her cabinet to a UK/ EU “customs partnership” which would avoid the need for paperwork at UK/EU borders.

UK Sports Minister Tracey Crouch said the UK will require betting shops to cut the maximum stake on fixed odds betting terminals (FOBT) to £2 from the current £100 level.

Ocado agreed to share its Ocado Smart Platform technology with US retail giant Kroger. Kroger is also subscribing for a 5% stake in Ocado paying £183m or 552p per share.

UK Department of Transport took back control of the InterCity East Coast line from Virgin Trains East Coach (90% owned by Stagecoach).

Netflix overtook Walt Disney in market value becoming the world’s most valuable media company despite revenues less than a third of Disney’s $55.1bn.

Barclays reportedly has instigated early stage merger talks with Standard Chartered. The unconfirmed rumours have hit Barclays shares with investors concerned at the risk of another Barclays rights issue to fund an acquisition.

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