It's a quieter (and a warmer) August Thursday, and its that time of day ... so, lets get into the more interesing stories of the day.
1. Unite’s £723m student digs deal: Unite Group is snapping up Empiric Student Property in a cash-and-share offer that will create a £10.5bn portfolio with 75,000 beds, most in Russell Group cities. The move opens new growth in the postgrad market and promises £13.7m in annual cost synergies.
2. Aviva delivers strong results: A 22% profit jump, dividend hike, and smooth Direct Line integration sent shares up 5%. Gains were driven by general insurance and “capital-light” businesses, with health and wealth segments also on the rise.
3. Admiral smashes forecasts: The insurer surged 6% after posting a 69% profit rise and upping its interim dividend by 62%. Motor insurance led the gains, with customer numbers climbing 10% to 11.4 million.
4. Bullish crypto debut smashes expectations: CoinDesk owner Bullish more than doubled its IPO price on its first day’s wild trading — and pre-market today it was still climbing. The $1.1bn raise marks a second attempt at listing after a 2021 SPAC deal collapsed.
5. Kingspan wins broker upgrade: Citi lifted the insulation giant to ‘buy’ from ‘neutral’ and hiked its price target to €89, citing growth potential in US Roofing and Data Solutions that could add more than 50% to the share price.