A steadier tone returned to markets today as tech troubles eased, takeover chatter resurfaced and a few boardrooms had rather busier mornings than planned. Here’s what’s moving the dial as the week gets underway.
1. Amazon clears the clouds (mostly): Amazon Web Services has patched the glitch that took half the internet offline, but the digital drizzle isn’t quite over. With more than 6.5 million outage reports logged worldwide, even the cloud’s biggest player has shown it’s not entirely waterproof. Engineers are still mopping up the data puddles. More here
2. MGM eyes Entain again? Casino giant MGM Resorts may be limbering up for another spin at Entain, three years after its last rejected offer. A few balance sheet shuffles have set tongues wagging. Investors are watching the tables closely as the odds on a sequel appear to be shortening. More here
3. B&M’s bargain stumble: Discount retailer B&M saw its shares tumble 15% after finding £7 million in unlogged freight costs and waving goodbye to its finance chief. The discovery will dent profits this year, proving even value stores can occasionally misprice their own shipping. More here
4. FTSE floats higher: The FTSE 100 gained about 50 points, shaking off jitters over a possible US-China trade flare up. With global nerves calming and corporate updates steadying the mood, blue chips managed a gentle climb, though Marks and Spencer’s recent shine dimmed slightly. More here
5. Galliford Try builds momentum: Construction group Galliford Try secured a spot on Hyde Group’s £3 billion affordable homes framework covering London and the South. The deal promises around 1,500 homes a year and plenty of hard hats as chief executive Bill Hocking nails down another long term win. More here
Pick of the small-caps
- Genflow Biosciences PLC (LSE:GENF, OTCQB:GENFF): Provides patent update
- EnergyPathways PLC (AIM:EPP): New application made
- Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF): Pivot paying dividends
- Arc Minerals Limited (AIM:ARCM): Updates on Zambian licence
- Tertiary Minerals PLC (AIM:TYM, OTC:TTIRF): Raises new investment