The FTSE 100 has made modest gains after opening in the red, ending the day up 11.2 points at 7,266.7. But the UK-focused FTSE 250 has closed down 208.1 points at 23,221.6.
The pound has slipped back after hitting a 21-month high against the euro yesterday as the threat of coronavirus lockdowns on the Continent hit the single currency.
Sterling was down 0.3 per cent against the euro at €1.188 just after London market close on Tuesday, although it remains close to yesterday’s pandemic high of €1.1929.
London-listed asset manager River & Mercantile has confirmed reports of an approach from rival firm Premier Miton, which would create a group with close to £20billion in assets under management.
In what would be the latest example of consolidation in a sector rife with M&A activity, R&M revealed this morning that City veteran Martin Gilbert’s AssetCo has also made an approach.
Yesterday, Jerome Powell was nominated to serve a second term as chairman of the US Federal Reserve – arguably the most powerful economic job in the world.
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The threat of coronavirus lockdowns on the Continent has weakened the single currency
