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UPDATE 2-UK shares steady as vaccine cheer offsets fears about new restrictions

Wed, 08th Dec 2021 09:56

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)

* Berkeley Group jumps on raised annual profit outlook

* Airline stocks hit by worries of travel restrictions

* TUI falls on posting FY loss of over 2 billion euros

* FTSE 100 adds 0.2%, FTSE 250 up 0.1%
(Updates prices, adds details on possible restrictions)

By Bansari Mayur Kamdar and Shashank Nayar

Dec 8 (Reuters) - UK's main stock indexes gained on
Wednesday after hitting session lows as positive headlines on
COVID-19 vaccines helped offset concerns about Britain
implementing tougher COVID-19 measures as early as Thursday.

The blue-chip FTSE 100 turned negative before rising
0.2% as a fall in sterling to fresh 2021 lows boosted the
exporter-heavy index.

Several media reports said Prime Minister Boris Johnson
might announce as soon as Wednesday a new coronavirus Plan B
which could include advice to work from home and COVID passports
for large venues.

However, markets were quick to reverse losses after BioNTech
and Pfizer said that a three-shot course of
their COVID-19 vaccine showed a neutralising effect against the
new Omicron variant in a laboratory test.

"The Pfizer news is feeding into that more positive picture
that's being built around Omicron," said Craig Erlam, senior
market analyst at Oanda.

"This idea is that it's not all doom and gloom, just because
this variant is more vaccine resistant, it doesn't mean the
vaccines are now useless, is building a more positive picture
than what we were facing a week last Friday," Erlam added.

The mid-cap FTSE 250 index advanced 0.1%, but
weakness in pub and restaurant stocks including Mitchells and
Butlers, JD Wetherspoon and Restaurant Group
, all down between 1.7% and 4.5%, limited further gains.

Cineworld dropped 5.1% and was the top loser on the
travel and leisure sub-index, while British
airline stocks Wizz Air, Easyjet and British
Airways owner IAG fall more than 3% each.

UK's benchmark FTSE 100 has rebounded to levels seen before
the detection of the Omicron variant in late-November, as
experts say the new strain might not be as severe as feared.

Tour operator TUI declined 0.8% after it posted an
annual loss of over 2 billion euros ($2.26 billion).

Homebuilder Berkeley Group Holdings added 4.2% as
it raised annual profit outlook after sales recovered to
pre-pandemic levels.
(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by
Subhranshu Sahu, Uttaresh.V, William Maclean)

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UK Chancellor Hunt meets top UK bank heads over plans to boost City

(Alliance News) - Jeremy Hunt has met the UK's biggest banks as part of efforts among the government to boost interest in the City.

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21 Dec 2023 10:14

IN BRIEF: Restaurant Group takeover by Apollo funds now complete

Restaurant Group PLC - London-based restaurant operator, including Wagamama chain - Takeover by Rock Bidco Ltd, a special purpose vehicle owned by funds managed by Apollo Global Management Inc affiliates, becomes effective after scheme of arrangement is sanctioned on Wednesday. The 65 pence per share offer from New York-based asset manager Apollo valued Restaurant Group at GBP701 million. Shares are suspended from trading in London from Thursday morning, cancellation is expected to take effect from the market open on Friday. Restaurant Group board members step down, effective immediately, including Chair Ken Hanna. Chief Executive Officer Andy Hornby and Chief Financial Officer Mark Chambers will retain their positions.

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20 Dec 2023 15:00

IN BRIEF: Restaurant Group takeover by Apollo to complete on Thursday

Restaurant Group PLC - London-based restaurant operator, including Wagamama noodle shop chain - Court in Edinburgh sanctions scheme of arrangement for Restaurant Group's acquisition by Rock Bidco Ltd, a special purpose vehicle of funds managed by Apollo Global Management Inc. The effective date of the scheme is expected to be on Thursday. Apollo is a New York-based alternative asset manager. Its offer of 65 pence per Restaurant Group share in cash back in October valued the equity of Restaurant Group at GBP506 million and the company as a whole, including debt, at an enterprise value of GBP701 million. Some London analysts considered the bid too low, and Wheel Topco Ltd, the owner of PizzaExpress Group Ltd, considered a rival bid before backing off in November.

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27 Nov 2023 20:02

TRADING UPDATES: Live Co to cut jobs; SDX Energy in strategy shift

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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7 Nov 2023 12:13

IN BRIEF: Pizza Express owner ditches Restaurant Group offer plans

Restaurant Group PLC - London-based restaurant chain operator, owner of Wagamama and Frankie & Benny's - Wheel Topco Ltd, owner of PizzaExpress Group Ltd, confirms that it will not make an offer for Restaurant Group "due to market conditions". Wheel Topco agreed in October to a takeover by New York-based Apollo Global Management for just over GBP500 million in cash, or 65 pence per TRG share. In late October it confirmed that Wheelco was considering making a rival offer and had sent a diligence request, in response to a Sky News report which claimed other potential counter-bidders were also considering offers.

Read more
7 Nov 2023 07:58

Pizza Express owner not planning to make offer for Restaurant Group

(Sharecast News) - The owner of Pizza Express cited "market conditions" on Tuesday as it confirmed that it does not intend to make an offer for The Restaurant Group.

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26 Oct 2023 17:00

LONDON MARKET CLOSE: Stocks firmly in red on ECB's Lagarde comments

(Alliance News) - Stock prices in London closed down on Thursday as investors reacted negatively to the European Central Bank's warning that it would be "totally premature" to discuss interest rate cuts.

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26 Oct 2023 12:29

Pizza Express eyes up potential takeover of Restaurant Group

(Alliance News) - Restaurant Group PLC on Thursday confirmed that the Pizza Express owner has taken interest in a takeover of the company.

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26 Oct 2023 12:08

LONDON MARKET MIDDAY: Stocks down ahead of US data and ECB decision

(Alliance News) - Stock prices in London were lower at midday Thursday, ahead of key data from the US, and a European Central Bank interest rate decision.

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26 Oct 2023 10:04

SMALL-CAP WINNERS & LOSERS: Pizza Express owner eyes Restaurant Group

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

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26 Oct 2023 07:51

LONDON BRIEFING: PizzaExpress owner makes play for Restaurant Group

(Alliance News) - The FTSE 100 is set to open lower on Thursday, as investors nervously look ahead to a key interest rate decision from the European Central Bank, and US economic growth data.

Read more
26 Oct 2023 07:23

Pizza Express owner considering bid for Restaurant Group

(Sharecast News) - The Restaurant Group confirmed on Thursday that Wheel Topco, the owner of Pizza Express, is considering making a bid for the company.

Read more
25 Oct 2023 20:57

PRESS: Pizza Express mulls dishing up rival bid for Restaurant Group

(Alliance News) - Pizza Express is potentially considering a surprise move to gatecrash a takeover of Restaurant Group PLC, the owner of Wagamama.

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17 Oct 2023 09:21

LONDON BROKER RATINGS: SocGen cuts HSBC to sell; DB down on utilities

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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17 Oct 2023 07:47

LONDON BRIEFING: Rolls-Royce confirms plan to axe at least 2,000 jobs

(Alliance News) - Stocks in London are called lower on Tuesday, as uncertainty over developments in the Middle East weighs on sentiment.

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