Markets: Live

Vodafone CEO to step down | National Express


5pm: London closes higher

The FTSE 100 closed 11.31 points higher at 7,567.54.

8.15m: Emblation expands in US

Microwave healthcare company Emblation has acquired a US distributor. The Scotland-based innovator said the acquisition of Saorsa Inc will help fuel the next phase of its development.

Full story here

7am: Vodafone

Vodafone said chief executive Nick Read would step down at the end of the year.

The company said chief financial officer Margherita Della Valle has been appointed interim CEO and “will accelerate the execution of the company’s strategy to improve operational performance and deliver shareholder value”.

Vodafone recently lowered its outlook for the full year following a weak performance in its largest market – Germany.

The company is in talks with CK Hutchison, owner of rival telecoms group Three, to combine their UK businesses into the biggest mobile operator in the country.

7am: National Express

Transport group National Express said that interim chief financial officer James Stamp will take on the role on a permanent basis with immediate effect.

7am: AG Barr acquisition

Irn-Bru manufacturer AG Barr has acquired Boost, an energy drinks business, for an initial £20 million, on a debt-free cash free basis.  Full story here

Global markets

On Sunday, the Organisation of the Petroleum Exporting Countries, led by Saudi Arabia and Russia, agreed to maintain their current output levels.

In China, the Shanghai Composite was up 1.5%, while the Hang Seng index in Hong Kong was up 3.6%.

In Shanghai, authorities will scrap some testing requirements as China continues to loosen its strict zero-Covid policy following recent protests across the nation.

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