Email Facebook Twitter

RNS EXCLUSIVE: Cabot praise 3D seismic mapping after successful winter programme

ShareCast News

FTSE 100 movers: Whitbread jumps on Sachem Capital stake; Hammerson slumps on Intu deal

Wed, 6th Dec 2017 14:54

(ShareCast News) - London's FTSE 100 was up 0.5% to 7,360.52 in afternoon trade on Wednesday, helped along by a weaker pound amid Brexit deadlock woes.

Premier Inn and Costa owner Whitbread was the standout gainer as it emerged that activist investor Sachem Head Capital Management has picked up a 3.4% stake in the company.

Sachem is a New York hedge fund set up by Scott Ferguson, a protégé of notorious activist shareholder Bill Ackman. One of a new generation of activist funds, Sachem has been active in the UK corporate scene in 2017, with Whitbread seemingly the latest firm where it has spied an opportunity to press management to make changes to potentially increase shareholder returns.

On the downside, Hammerson slumped as it agreed to buy FTSE 250 rival Intu Properties for £3.4bn. For each share owned, Intu shareholders will receive 0.475 new Hammerson shares, which based on the Hammerson's overnight closing price of 534.5p values Intu shares at 253.9p apiece. This will mean Intu shareholders will own roughly 45% of the enlarged group, though the deal is not expected to close until the fourth quarter of 2018.

Analysts pointed to execution risk as one of the reasons why Hammerson shares might be down.

Legal & General was also on the back foot after saying it has reached an agreement to sell its mature savings business to the ReAssure division of Swiss Re for £650m.


Whitbread (WTB) 3,862.00p 4.10%

British American Tobacco (BATS) 4,992.00p 2.93%

Tesco (TSCO) 204.95p 1.97%

Sky (SKY) 995.00p 1.95%

Morrison (Wm) Supermarkets (MRW) 222.80p 1.83%

Reckitt Benckiser Group (RB.) 6,533.00p 1.78%

Kingfisher (KGF) 336.30p 1.63%

Imperial Brands (IMB) 3,080.00p 1.48%

Sainsbury (J) (SBRY) 242.70p 1.42%

BAE Systems (BA.) 557.50p 1.18%


Hammerson (HMSO) 511.50p -4.30%

Micro Focus International (MCRO) 2,425.00p -1.94%

Shire Plc (SHP) 3,555.00p -1.56%

Worldpay Group (WPG) 414.60p -1.52%

Croda International (CRDA) 4,272.00p -1.02%

Legal & General Group (LGEN) 261.50p -0.95%

Rolls-Royce Holdings (RR.) 837.25p -0.92%

Sage Group (SGE) 759.00p -0.85%

Barclays (BARC) 190.10p -0.83%

Scottish Mortgage Inv Trust (SMT) 430.20p -0.76%

Back to ShareCast News

Share Price, Share Chat, Stock Market news at
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.