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Monday – November 01
1. Land Securities Group Plc (LON: LAND)
Land Securities, a UK-based FTSE 100 property firm, announced the takeover of U+I, a regeneration specialist, for £190 million. Landsec’s 149 pence per share offer was a 73% premium to the latter’s Friday closing price of 86 pence per share. U+I’s pipeline encompasses the Morden Wharf site, Greenwich Peninsula, which demonstrates the scope for 1,500 warehouses, shops and homes. The acquisition is a part of Landsec’s strategy to exit leisure and retail parks and hotel businesses to focus on projects in London and other cities.
Tuesday – November 02
- Flutter Entertainment Plc (LON: FLTR)
Flutter Entertainment’s license was suspended by the Netherlands Gambling Authority on 01 October, after new betting laws came into effect, while other operators were allowed to continue. This costed the leading UK-based betting firm a £50 million drain in profits – which includes £10 million loss in profits in 2021 and £40 million in H1 2022. The suspension of its license, along with a poor football result run in October, led to the company downgrading its profit guidance.
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Wednesday – November 03
- Glencore Plc (LON: GLEN)
Glencore inked an agreement to sell its Chad-based upstream oilfields to Perenco S.A., an Anglo-French oil firm. Perenco operates in 15 countries and is engaged in acquiring mature oilfields.
In 2012, Glencore entered Chad and took over the oilfields in 2014, just before the major oil price slump. Glencore announced the sale of the oilfields in 2019. The sale deal with Perenco is, however, subject to the approval of the Chad Government. The oilfields produced nearly 7,700 barrels per day (bpd) until 2020 when the company placed them on maintenance and care.
Thursday – November 04
- Derwent London Plc (LON: DLN)
Derwent London, a UK-based FTSE 250 property developer, commenced the construction of a £400 million net-zero carbon office in the West End. The company will be using low-carbon concrete, and the building will operate on an all-electric heating and cooling system powered by renewable electricity. The project will encompass over 200,000 sq. ft. of offices, homes and shops. Improved market sentiment and business activity have driven demand and boosted the group’s confidence for the commencement of the company’s next net-zero carbon development project at 19-35 Baker Street.
Friday – November 05
5. BT Group Plc (LON: BT.A)
BT Group announced reinstating a dividend pay-out of 2.31 pence per share starting 7 February 2022. The telecom giant axed its dividend pay-out in May 2020 to free up cash to spend on full-fibre roll-out and address restructuring costs.
BT reached its annual £1 billion cost savings target 18 months sooner than expected. Consequently, the company is targeting £2 billion worth of savings within a year, which was earlier set to be achieved by 2025. The record savings will enable BT to collaborate with outside partners to reach a target of providing full-fibre broadband to 25 million premises by 2026.
