Good Morning from London where the FTSE 100 has blasted through the 7,500 ceiling for the first time in nearly a month as investors prepare for the US to update on inflation later this week.
Here in London, Wagamama’s owner The Restaurant Group PLC (LSE:RTN) is set to sell off its Frankie & Benny’s and Chiquito chains for £7.5 million. Big Table Group will purchase 75 of the sites, with the loss-making ‘leisure’ division having been one of the London-listed firm’s points of concern among activist investors this year.
Housebuilder Vistry Group PLC (LSE:VTY) said it will be dishing out £1 billion to investors over the next three years, starting with a £55 million share buyback programme in November. The business will be also be merging its ‘housebuilding’ and ‘partnerships’ divisions as it continues to undergo several cost-saving activities.
In Oxford, BMW AG (ETR:BMW) confirmed it is set to start manufacturing a next-generation electric mini, having secured millions in government funding. The company is putting more than £500 million into the existing plant, with the UK government providing a further £75 million.
In small-cap news, Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) shares rallied after confirming its signed a supply agreement for critical magnet materials with Less Common Metals. And Union Jack Oil PLC (AIM:UJO) executive chair David Bramhill told Proactive this morning that he feels the UK-focused onshore oil and gas company is in a straitjacket - with little government support for domestic UK oil and gas production.