UK and European markets closed mixed to kick off the penultimate week of 2023.
The yen retreated, but held near its recent highs, as the Bank of Japan (BOJ) kicked off a two-day meeting.
Oil rose as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruptions, although ample supply and scepticism around Russia’s plan to cut exports in December limited gains.
Gold prices gained, helped by a softer dollar, while focus has now turned to key U.S. inflation data seeking additional signals on the Federal Reserve’s interest rate path after its recent dovish tilt.
LondonMetric and LXi REIT confirmed on Monday that they are in talks about a possible all-share merger to create a real estate company worth £3.9bn. The possible merger would result in a UK-focused triple net lease REIT of scale, they said, with a pro-forma gross asset value of around £6.4bn and a market cap of £3.9bn.
The making of any firm offer by LondonMetric is subject to a number of pre-conditions. These include the completion of mutual due diligence, the provision of certain consents, waivers and approvals by each company's lenders and the recommendation of the possible merger by LXi’s board.
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