Market Updates
J D Wetherspoon Plans to Invest
Nigel Thomas
29 Dec, 2014
New York City
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J D Wetherspoon plans to invest more than
[R]4:00 PM Frankfurt – J D Wetherspoon plans to invest more than £400 million and open 200 new pubs in UK and Ireland. Royal Mail is in preliminary talks to buy City Link.[/R]
In London trading, FTSE 100 index edged up 0.08% or 5.02 to 6,614.95 and in Frankfurt the DAX index fell 0.4% or 44.17 to 9,877.94.
In Paris, CAC 40 index slid 0.3% or 11.09 to 4,284.76.
Glencore Plc rose 0.4% to 301.70 pence after the U.K.-based diversified natural resource company plans to buy back 1,213,632 shares between 301.55 pence and 299.05 pence.
Separately today the company’s director William Macaulay sold 801,251 shares at an average price of 300.33 pence per share worth £2.4 million.
J D Wetherspoon Plc dropped 2.2% to 808.50 pence after the U.K.-based hotel and pub operator announced its plans to invest more than £400 million.
The company also expects to open 200 new pubs establishing 30 new pubs with low-cost brand in Republic of Ireland and UK in next five years and will create approx 15,000 jobs.
Royal Mail Plc climbed 4.5% to 441.25 pence after the media report KMPG is in preliminary talks with U.K.-based postal and delivery service provider and DX Group Plc an effort to find a possible buyer for City Link.
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