Home Breaking News M&A splurge lifts the FTSE 100

M&A splurge lifts the FTSE 100

by LLB Editor
14th Sep 20 11:22 am

Mergers and acquisitions activity showed there was still a bit of life in the market – helping the FTSE 100 to a positive start on Monday as it consolidated its position above the 6,000 mark,” says AJ Bell investment director Russ Mould.

“Along with US pharma giant Gilead buying a cancer specialist for north of $20 billion, Japanese investor Softbank announced it would sell UK microchip designer ARM to US-based Nvidia for $40 billion – just four years after snapping up the business in the wake of the Brexit vote for around $10 billion less. That’s a very tidy profit, although it is likely to have invested a lot in the business during its ownership.

“The biggest deal in terms of market sentiment was Oracle’s reported partnership with Chinese social media platform TikTok which helped ease concerns over the on-off trade war between the US and China.

“Later this week the focus is likely to be on the central bankers in the UK and US as they deliver their latest decisions on interest rates.”

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