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Low-key start to the week for London's FTSE

FTSE 100 made a low-key start to the week as traders await Boris Johnson’s announcement on the next steps out of lockdown on Monday afternoon. London’s leading index was down 11 points to 7,111 in early trading.

The FTSE 100 made a low-key start to the week as traders await Boris Johnson’s announcement on the next steps out of lockdown on Monday afternoon. London’s leading index was down 11 points to 7,111 in early trading.

WM Morrison Supermarkets PLC (LON:MRW) is the frame for a third offer by US investment manager Apollo Global, according to reports today. The grocer has already agreed to be taken over by private equity group Fortress for £6.3bn after rejecting a £5.5bn bid by Clayton, Dubilier & Rice.

The UK government will set up a new regulator to police safety standards of housing developments. The initiative aims at avoiding another disaster like the Grenfell Tower fire, where 72 people died in 2017.

Glencore PLC’s (LON:GLEN) chair Tony Hayward is to retire after eight years in the role. He will be replaced by Kalidas Madhavpeddi, a director and mining veteran with 40 years’ experience.

Diversified Energy Company (LON:DEC) has expanded its footprint into a new area with a deal to acquire assets in the states of Louisiana and Texas. The FTSE 20 group is acquiring a package of 390 wells currently producing 14,000 barrels oil equivalent per day.

Franchise Brands PLC (LON:FRAN) drainage solutions division Metro Rod posted record sales for the six months to 30 June. Sales increased by 21% compared to 2020 and by 17% with last month especially strong.

BATM Advanced Communications Limited (LON:BVC; TASE:BVC) has landed a US$10mln order from an unnamed but long-standing government defence customer which is taking an advanced cybersecurity solution. Delivery will begin immediately.

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