LSE Says It Suspended Trading in Russian GDRs: The London Rush
(Bloomberg) -- Here's the key business news from London-listed companies this morning:
London Stock Exchange Group Plc: The U.K.'s primary stock exchange said it suspended trading of Russian GDRs in an interview with Bloomberg TV, also noting in its results this morning that less than 1% of its total income comes from operations in Russia and Ukraine.
- Meanwhile, cyber-security company Darktrace Plc said the current geopolitical situation has “heightened the urgency for businesses and governments to improve cyber resilience”
Taylor Wimpey Plc: The homebuilder said it expects the surge in house prices to offset the rising cost of materials, equipment and labor used to build them, which is currently running at about 6%.
888 Holdings Plc: The online betting and gaming company has been awarded an iGaming license by Ontario, Canada, making it among the first operators to have been given the license.
- Meanwhile, competitor Entain Plc said its U.S. arm BetMGM, who also plan to launch in Ontario, has established itself as the number two operator for sports betting and iGaming, and is ready to challenge for the number one spot
Outside The City
Russian forces pressed ahead with their offensive in Ukraine, as the war enters its second week. The army fired missiles at Kyiv overnight and stepped up their campaign to take cities in the coastal south.
London commuters are set for another day of disruption on Thursday as the city's underground rail service continues to be crippled by strikes.
In Case You Missed It
Roman Abramovich plans to sell Chelsea Football Club after owning the Premier League team for nearly two decades. The Russian billionaire said the proceeds from the sale will go to the victims of the war in Ukraine. Abramovich is also said to be selling his London properties.
Meanwhile, U.K. house prices shocked forecasters by posting the biggest increase since August, defying widespread concerns over inflation.
Looking Ahead
Hammerson Plc will round off the week's earnings tomorrow. Also on Friday, data on the U.K. construction sector will show whether the industry continued its post-Omicron bounce in February.
©2022 Bloomberg L.P.
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