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Fox gets closer to Sky takeover

07 April 2017 16:58

The European Commission competition authorities granted 21st Century Fox approval to buy the remaining 61% of broadband provider Sky (SKY) that it doesn't own.

The deal could still be blocked by UK regulators such as Ofcom and the Competition and Markets Authority, as Sky nudged higher to 963p.

Gold remained a safe haven, up 1.2%, as investors were concerned about US President Donald Trump ordering US missile strikes on a Syria airbase. It was linked to a suspected chemical weapons attack on a rebel-held town.

Gold miners Randgold Resources (RRS) and Mexico's second largest gold producer Fresnillo (FRES) were among the top blue-chip risers.

Oil prices also gained positive momentum, with Brent crude oil up 0.7% to $55.29 per barrel.

Copper went 1.3% in the opposite direction to $5,776 per tonne.


The US unemployment rate fell to its lowest in nearly a decade in March, although less jobs were created than expected. On Friday, the Dow Jones and S&P 500 slipped lower.

In Asia, the markets overlooked the US strikes as Japan's Nikkei 225 closed 0.3% up on Friday, while the Hang Seng and SSE Composite indexes were stable.


Investment trust Scottish Mortgage Investment Trust (SMT) was flat at 370p after agreeing to raise a total of £125m in long-term and unsecured private placement notes in sterling.

Plumbing and heating products distributor Wolseley (WOS) nudged 0.8% lower to £49.13 on the completed merger between its Swiss plumbing business Tobler and Walter Meier.

Engineer Smiths Group (SMIN) completed the acquisition of Morpho Detection after receiving clearance from US Department of Justice.

Testing-focused organisation Intertek (ITRK) continued the acquisition trend as it completed the takeover of fuel testing services business KJ Tech Services.


A third of AIM-listed Quadrise Fuels (QFI) was wiped off to 6p as it faces further delays to its trial of its MSAR fuel with shipping giant Maersk.

Historic British railway brand Hornby (HRN) successfully completed the first stage of its turnaround which it believed it gave a strong base from which to build. The market clearly felt the firm was on the right track as the stock accelerated 8% to 33p.

Holding company PCI-PAL (PCIP) secured two big contracts for its services, one of which was worth over £150,000. The second was for a Fortune 500 company for at least three years and worth over £80,000 a year. The stock climbed 18.4% to 45p.

Tech firm Microsaic Systems (MSYS) signed an amendment to its research collaboration agreement with a long-standing global partner. It was a precursor to future collaboration in the area of bio-processing, which excited investors as the stock rallied 10.7% to 2.3p.

Electra Private Equity Partners 2006 Scottish LP sold its stake of 26.7 million shares in bowling alley operator Hollywood Bowl (BOWL) for £40.7m. Shares in the firm fell 5.3% to 159p.

StatPro (SOG) gained 11.6% to 100.4p on an agreement to buy UBS Delta for approximately €13m in cash, paid over three years. UBS Delta was UBS' risk and performance analytics service.

Gem Diamonds (GEMD) sparkled 6.4% at 95p after recovering a 114 carat diamond of exceptional quality from the Letseng mine in Lesotho. Story provided by

Related Company: SMT

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