Market News & Analysis
UK declares threat to public health
Fiona Cincotta February 10, 2020 10:03 AM
China, Wuhan and neighbouring cities excluded, is beginning to come back on line Monday with businesses reopening after more than two weeks of closures. In the fenced off parts of the country the worst may not be over yet with a peak expected towards the end of February. But local stock market indexes are reflecting confidence that the worst of the spread has been contained.
In London cautious words from the UK government pushed the FTSE lower as the UK declared that the coronavirus now poses a serious and imminent treat to public health. Airline easyJet was among the FTSE's top fallers as was Premier Inn owner Whitbread.
NMC Health gets potential suitor
New York-based investment firm Kohlberg Kravis Roberts made a tentative approach for the embattled health operator NMC Health, helping lift the stock 8.5% this morning. The only surprising thing about the move is that a suitor for the company which plummeted from a peak of 3,059 last year to 678 in December took this long. The scathing report published in December by short-seller Muddy Waters cost the firm more than 70% in terms of share value and numerous attempts to wipe the record clean yielded only minor improvement in the share price.
KKR reportedly made no official proposal or discussed a possible offer but when an offer comes in either from KKR or from other interested investment firms it is likely to be close to a bargain basement price compared to where the company has traded over the last five years.
Pound bounces back despite trade talk concerns
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.