Just noticed the spread today is 0.04% or 1p on a £26.50 middle. That speaks volumes about the shortage of stock around. I would be content to sell but it is so tempting to hang in for that little bit more!!
UBC, whose customers include the BBC, said it had agreed to purchase 7digital for £16.5m. The transaction is structured as a reverse takeover and will be financed by the issuance of new shares and a £6m placing.
London Stock Exchange: goodbye, Dubai: Just look at Borse Dubai’s investment in the London Stock Exchange. It bought the shares in 2007 at about £14. It has just sold the lot for £22.50 each. Sure, it has been a rocky ride (they fell below £4 in the crisis) but compare that 61% return to the 15% that it would have made in the FTSE All-share over the same period. That valuation makes sense only if LSE can continue its trajectory. When Dubai bought, LSE had just fought off a bid from Nasdaq. Since then it has bulked up with a string of acquisitions: Borsa Italiana, clearing house LCH. Clearnet and the £1.6 billion purchase of Frank Russell, an index provider and investment Manager, last year. The deals have diversified LSE beyond the U.K. equities market, taking in growth trends such as the rise of passive investment and the increasing use of centralised clearing along the way. The other danger is that the share price is affected by any slowdown in the core capital markets business. It had a strong year in 2014, with admissions revenue up a fifth and secondary markets up 12%. If growth slows the shares may fall victim to any lingering feeling that LSE is just a geared play on stock market activity. But RBC expects capital markets to account for just 14% of revenues this year. These days, LSE is about more than just the shovels.
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