Coronavirus: New European publisher Archant hunts new owners | Business News

One of Britain’s oldest regional newspaper groups has put itself up for sale as it races to find new investors willing to plug a funding deficit exacerbated by the COVID-19 pandemic’s disastrous impact on industry-wide advertising revenues.

Sky News has learnt that Archant, which was established in 1845 and publishes titles including the Eastern Daily Press and London’s Ham & High Express, has appointed corporate financiers to find new backers.

City sources said this weekend that the family-owned company wanted to secure new funding within the next few months.







‘The economic pain of COVID-19 will be deep’

KPMG, the professional services firm, is handling the process.

Archant is one of the most venerable names in Britain’s print media industry, having been jointly founded more than 175 years ago by the Colman family whose name went on to adorn one of the most prominent brands of English mustard.

Along with the

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European markets have vaccine hopes

European stocks are expected to open higher Thursday as global markets get a boost from news surrounding the development of a potential coronavirus vaccine.

London’s FTSE is seen opening 49 points higher at 6,203, Germany’s DAX is seen 120 points higher at 12,362, France’s CAC 40 is seen 51 points higher at 4,971 and Italy’s FTSE MIB is seen 190 points higher at 19,405, according to IG.

European stocks look set to track global markets higher, with investor sentiment getting a boost from news that a vaccine candidate being developed by Pfizer and BioNTech shows potential. An early-stage human trial of one of four potential coronavirus vaccines it’s developing showed the drug created neutralizing antibodies. The results, which were posted online, have yet to be reviewed by a medical journal.

Stocks in Asia Pacific rose during Thursday’s trading session were boosted by the news, yet investors in the region are

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European markets head for broadly positive open after China data boost

European stocks are expected to open in flat to positive territory Wednesday, getting a boost from better-than-expected Chinese factory activity in June.

London’s FTSE is seen opening 5 points lower at 6,179 while Germany’s DAX is expected to open 22 points higher at 12,354, France’s CAC 40 is seen 9 points higher at 4,951 and Italy’s FTSE MIB is seen 72 points higher at 19,327, according to IG.

Market participants in Europe will be digesting the latest indication of an economic recovery in China Wednesday after a private survey showed Chinese manufacturing activity in June growing more than expected. 

The Caixin/Markit manufacturing Purchasing Manager’s Index (PMI) came in at 51.2 in June, above expectations of a reading of 50.5 by analysts in a Reuters poll. Stocks in Asia Pacific mostly edged higher in Wednesday afternoon trade. 

PMI readings above the 50-level signify expansion on a monthly basis, while those below

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FTSE records its best quarter since 2010 – but lags European peers | Business News

The FTSE 100 may have fallen today, dragged lower by heavyweight Royal Dutch Shell, but the index of Britain’s biggest 100 listed companies has still notched up its best quarter in nearly a decade.

The 9.07% returned by the index during the last three months is better than anything achieved since the 12.85% gain enjoyed during the three months to the end of September 2010.

Among the star performers have been Ocado, the online grocery delivery firm, which is up some 66% during the quarter.







Is ‘bath tub-shaped’ recovery on the way?

Ashtead Group, the world’s biggest plant and tool hire firm, rose by some 54% during the quarter.

Kingfisher, the owner of Screwfix and B&Q and which recently returned to the Footsie, rose by a similar amount.

And Flutter Entertainment, the owner of Paddy Power and Betfair, put on 48%.

There were not too many fallers during

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