Market Report: Soros Fund Management invests in Clipper Logistics
Thursday 05 June 2014
Newly floated Clipper Logistics got a vote of confidence from legendary US investor George Soros yesterday. Quantum Partners, an investment fund run by Soros Fund Management, bought a 3.25 per cent slug of the company, which delivers people's online shopping.
The investment helped the Leeds-headquartered company, which runs Asos's order return service, climb 6.5p to 121p on its first day of unconditional trading.
Saga had no such luck – the recently listed over-50s insurer and cruise operator continued to fall further below its 185p float price, closing down 5.5p at 172.5p.
Bluechip traders were still sitting on their hands ahead of today's ECB meeting. The FTSE-100 closed down 17.67 points at 6,818.63.
Smith & Nephew topped the index, up 34p at 1,064p, after brokers Berenberg said any future bid from US rival Stryker would likely be around £12 a share. Stryker last month denied it was planning a bid for Smith & Nephew but admitted it had taken a look.
Companies trading ex-dividend also weighed on the Footsie, with National Grid losing 47p to 830.5p.
Despite a brief early rally, Tesco also pushed the top-flight index lower, with the supermarket closing down 4p at 293.5p.
Mothercare bubbled up on renewed rumours of private equity interest. Buyout specialist Advent International has been linked to a possible bid for the retailer, which last month reported a loss of £26.3m for the year to the end of March.
Despite reports that Advent is not planning an offer, the revived rumours helped Mothercare climb 11.75p to 193p.
Mid-cap listed Workspace Group jumped 24.5p to 608.5p, after the London-focused small-business landlord revealed the value of its portfolio passed £1bn for the first time last year.
Home shopping and educational supplies group Findel leapt 13p to 259.5p on a strong set of full-year numbers. Pre-tax profit at the small-cap company leapt from £11.8m to £22m last year.
On AIM, Rockhopper explorations improved 0.25p to 96p after signing a rig contract with Premier Oil, down 3.7p at 346.3p, in the Falklands.
- 1 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 Chelsea victory parade: Chelsea mocked on Twitter as 'tens of fans' pack the streets of London
- 3 US warned by Chinese media to stop meddling or 'war will be inevitable'
- 4 Woman, 21, dies after taking contraceptive pill that 'caused fatal blood clot'
- 5 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
US warned by Chinese media to stop meddling or 'war will be inevitable'
How China's richest man Li Hejun lost $15bn in an hour - and made a fortune
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Snoop Dogg on why he doesn't regret displaying misogyny towards women
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
A nation of inequality: How the UK is failing to feed its most vulnerable people
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...