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Beaufort Securities Breakfast Alert - Media giant Comcast makes bid for Sky

Beaufort Securities Breakfast Alert - Media giant Comcast makes bid for Sky


The FTSE-100 finished yesterday's session 0.62% higher at 7,289.58, whilst the FTSE AIM All-Share index was up 0.12% at 1,044.63. In continental Europe, the CAC-40 finished 0.51% higher at 5,344.26 whilst the DAX was up 0.35% at 12,527.04.

Wall Street
Last night in New York, the Dow Jones added 399.28 points, or 1.58%, to end the day at 25,709.27. The S&P 500 finished 32.3 points higher at 2,779.6 and Nasdaq gained 84.07 points at 7,421.46.

In Asia this morning, the Nikkei 225 was 213.35 points, or 0.96%, higher at 22,366.98 heading into the close. The Hang Seng was down 0.24% at 31,423.02 and the Shanghai Composite fell 1.26% at 3,287.57.


At around 6:00am, WTI crude was 0.13% lower at $63.83 per barrel and Brent crude was down 0.07% at $67.45 per barrel.


Media giant Comcast makes bid for Sky
US cable TV giant Comcast has made a £22.1bn takeover bid for Sky, challenging an existing offer from Rupert Murdoch’s 21st Century Fox. 21st Century Fox had already agreed a deal to buy the 61% of Sky it does not already own. Comcast said the offer of £12.50 per share was a 16% higher than the 21st Century Fox offer. The chief of Comcast, Brian Roberts, said: "We think that Sky would be very valuable to us."

Source: BBC News

Company news


Secure Property Development & Investment (SPDI.L, 11.50p) – Speculative Buy
Secure Property Development & Investment PLC, the AIM-quoted property company focused on Emerging Europe, is pleased to announce the sale of nine residential units in Romania and Bulgaria for a total gross consideration of €980,000. The proceeds will be used to reduce the Company’s residential property asset debt by €0.7m to €11.5m, while at the same time generating free cash of €280,000. The sales are in line with the Company’s strategy to dispose of non-core assets and focus on growing its income producing portfolio of prime commercial and industrial real estate in high-yielding countries such as Romania and Greece.

Our view: SPDI is a very well managed property business focused upon Emerging Europe. This sale represents further progress towards the company’s goal of disposing of non-core assets at a premium to NAV, reducing debt, and focusing upon prime commercial and industrial property assets going forward. Trading on around a 50% discount to NAV, SPDI stock represents very good value, which will be realised at some point we believe.

Beaufort Securities acts as corporate broker to Secure Property Development & Investment plc


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