William Hill was a bit of a darling in 2012, with its shares soaring during 2012. Yesterday saw a halt to this march at around the 350 level, with investors waiting for more news on some acquisitions the bookmaker was undertaking. Ahead of a market update on Friday, expect to see more support for the bookie.
Little known Litebulb Group rocketed up by 14.4% to 0.715, on the news that Tesco will be using the manufacturer for its first order of children’s scooter accessories. The company’s rape alarm product was also gaining attention, with QVC USA reordering the product and QVC Deutschland also debuting the product this week.
In bond news, UK government gilts dropped lower on the news that the US may be one step closer to reaching another short-term fix to its debt ceiling/budget troubles. The March gilt ticked 33 points lower to the 116.63 level, showing that investors are becoming slightly more confident in riskier assets, such as shares.
Keep your eye on Phones4u. They’re the latest mobile provider to launch a bespoke 4G brand, after the Kevin-Bacon led EE.
The disgrace of the UK banking sector rolls on, with Lloyds this time in the firing line. Former senior figure Helen Weir issued a groveling apology over the PPI misselling scandal. Now with the John Lewis Partnership, Weir also apologise for the misselling of insurance that also occurred on her watch at the UK bank. She told the Banking Standards Commission (BSC) that she was sorry for her role in the ongoing scandal, which is expected to cost the bank at least £6 billion.