Shares in private hospital operator Spire shot higher this morning after a filing detailing that a private equity offer had been tabled at a level management were minded to support. The proposal of 250p per share on an all cash basis has understandably garnered enthusiasm although the gains posted so far are still short of the target price. An accompanying trading statement reiterated full year guidance and the Spire share price was 45% higher just over an hour into the day.
Full year results were out from 3i Group this morning, and whilst there was plenty to cheer from the company with its share buyback and a 22% return on shareholder funds being recorded, the stock tanked on concerns that the ongoing Gulf crisis will take a toll on consumer confidence, bleeding into portfolio valuations as a result. Despite the fact the stock has already had a difficult run, today’s news sent another shockwave and the 3i share price was down 15% in early trade.
The high street retailer of top end timepieces issued a full year trading update this morning with another year of record revenue growth being recorded. The US remains the key driver of growth, with income up 24% but increases were also reported in the UK. However expectations have been tempered for FY27 with revenues forecast to rise by between 5% and 10%, whilst EBIT margins are tipped to grow by 40-80 bps. The market is taking a glass half full view here and the WOSG share price was up 14% by 9.30am.
Most read news on Investegate this morning
SweetBiotix® Sampling - - OptiBiotix Health (OPTI)
Compulsory Acquisition and Closure of Offer - - Essensys (ESYS)
Statement regarding possible offer - - Spire Healthcare Group (SPI)
