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FIVE at FIVE: FTSE 100 rallies late; Frasers trounced; Carnival smashes it; Royal Mail takeover approved; Government borrowing dips

1. FTSE 100 Live

Index rallies; US stocks mixed on government shutdown fears.

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2. Frasers trounced in failed bid for Boohoo board appointments

In a Friday general meeting, 64% voted against appointing Frasers’ founder and figurehead Mike Ashley as a director of the company.

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3. Carnival hits revenue record after ‘incredibly strong finish’ to year

Underlying profits were a record at US$6.1 billion or more than 40% higher than a year ago.

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4. Royal Mail £3.6bn takeover passes national security check

Kretinsky’s EP Group noted on Friday that the Chancellor of the Duchy of Lancaster had conditionally approved its bid

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5. Government borrowing hits three-year low for November

Borrowing totalled £11.2 billion in November, down £3.4 billion year on year and was the lowest level for the month since 2021.

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In the small-cap space: