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Wednesday,03 August 2022 at 16:13

NortonLifeLock’s $8.6 billion acquisition of its rival Avast has won provisional clearance from the UK competition regulator, sending shares in the FTSE 100 cybersecurity group to an all-time high.
 
Shares in Avast rose 43.2 per cent to 684.25 pence while the Nasdaq-listed NortonLifeLock was up 3 per cent before US markets opened.
 
The Competition and Markets Authority has concluded that the deal does not raise competition concerns in the UK.
 
The deal, which would combine NortonLifeLock’s strength in identity theft protection and Avast’s privacy credentials, has already received regulatory approval in the United States, Spain and Germany.
 
UK & European stocks closed higher after strong U.S. economic data tamed investor fears of a looming recession.
 
U.S. stocks priced higher
.
 
Oil prices slid 1.5% as U.S. crude stockpiles unexpectedly surged higher last week. 

Gold traded higher as the U.S. dollar fell.

Markets
At the close
FTSE 100 7,445 +0.49%
FTSE 250 20,018 +0.73%
DAX 13,587 +1.03%
At 16:45
Dow Jones 32,700 +0.94%
S&P 500 4,138 +1.15%
NASDAQ 12,594 +1.99%
Fixed Income
UK 10-YR YIELD 1.914
Exchange Rates
GBP/USD 1.213
GBP/EUR 1.195
Commodities
Gold $1,759 (-0.02%)
Brent $97.52 (-2.31%)
Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.

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