European shares up after Easter
European shares climbed higher after the Bank Holiday break, whilst oil sunk back below $40.
The pan-European FTSEurofirst 300 index was up 0.8 percent just after 7am this morning, after after falling 1.5 percent on Thursday. Britain’s FTSE 100 Index opened 0.55 percent higher at 6,139.97 with bank, oil and mining firms leading the gains.
Investors will be looking to key announcements from the US this week, with Federal Reserve Chief Janet Yellen due to speak later today giving insights into the US central bank’s next rate rise. Non-farm payroll and employment data from the US is also due on Friday.
However, Brent crude oil as fallen by almost 1 percent this morning, pushing back below $40 per barrel.
Yahoo sets deadline for bids
Yahoo Inc has set an April 11th as the deadline to submit preliminary bids for its web business and Asian assets, according to the The Wall Street Journal’s report Monday.
Yahoo asked bidders details regarding financing, conditions or approvals that would have to be met on their end, the Journal said, citing a letter sent to possible bidders. (on.wsj.com/1VQGCDh)
This move comes after key shareholder Starboard Value called for the replacement of Yahoo’s entire board, in a letter sent to Yahoo late last week.
Tata steel plant decision expected this week
UK union leaders have held talks in Mumbai, as Indian steel giant Tata prepares to decide the fate of thousands of UK workers.
Officials from the Community union had “constructive” talks with senior company representatives ahead of the key board meeting on Tuesday
A spokesman for Community said: “The delegation from Community led by Roy Rickhuss, general secretary, along with Stephen Kinnock, MP for Aberavon, and Frits van Wieringen, chairman of the Tata Steel European Works Council, met in Mumbai with senior representatives of Tata Steel in advance of the board meeting.
“The meeting was open and constructive. The European delegates made the case for Tata to continue to support the UK business.”
The Port Talbot steelworks in south Wales suffered 1000 job cuts in January, and now has its entire future at stake.
29/03/2016