The high street retail heavyweight – and arguably the one group that could be the last left standing – saw its shares adding just over 2% by mid-morning, making the stock one of the best performers on the FTSE-100. News released earlier today highlighted that the company had increased its stake in catalogue retailer N Brown, taking its holding above the 20% mark, although it was word that an £80m share buyback programme was also underway that likely delivered most of the price impact.
More M&A news out this morning after Tritax Big Box reached agreement to acquire UK Commercial Property REIT on an all-share basis. The combined group would be in contention for a place in the FTSE-100 and the news saw UKCP’s share price add almost 5% by mid-morning. However as is often the case, Tritax investors were less impressed with shares falling 2.5% suggesting that the premium offered may be a little on the generous side.
The Western Australia focused minerals company this morning
provided the market with an update
of drilling in the West Pilbara region. These results will allow for more
refined exploration to be undertaken, with the overall theme remaining
favourable. A strong newsflow is expected over the next few months as further
updates are received, suggesting this could remain an actively traded stock. My
mid-morning, Artemis was some 25% higher on the day.
