Spreadex Market Update

$12 billion takeover move keeps markets above water



KKR made a $12 billion bid for Telecom Italia today, pushing UK telecom companies higher.

This optimism was extended thanks to a Bloomberg report that the maker of Corona beer, Constellation Brands, is exploring a deal to join with energy drink company, Monster Beverage.

Both Vodafone and BT are up over 2% today, allowing the FTSE (+0.61%) to gain despite continued fears of COVID-19 lockdowns, and high energy prices.

However, these gains could be short lived as there are talks of Germany following Austria’s actions of going into another lockdown, as cases continue to rise across Europe.

Energy prices also continue to dampen any large advances, especially with news today that the 7th largest energy supplier, Bulb Energy, has gone into administration.

US stocks opened positively today as the White House confirmed Jerome Powell as their nomination for chairman of the Federal Reserve.

The DOW and the S&P are both flying at +0.76% and +0.72% respectively, as Financials and technology stocks jumped with the news.

US markets are likely to be slightly more volatile this week, considering the number of important announcements this week from GDP data, to figures affecting inflation.

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