15 March 2021 | 12:01pm
StockMarketWire.com - The FTSE 100 lost some of its early momentum, only up 0.2% to 6,776.75 having earlier traded above the 6,800 mark.
US stimulus and better-than-expected Chinese data were catalysts but accompanying inflation worries continued to check the market s progress with European markets pretty flat.
Subprime lender Provident Financial plunged 27% to 190.3p after it revealed UK regulators were investigating its consumer credit division, focusing on the affordability and sustainability of lending practices.
Provident Financial said it was planning to spend up to $65 million addressing customer complaints in the division, which it said might be forced into liquidation if its plan was rejected.
European Travel and Leisure Stocks Fully Erase Pandemic Losses bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
15 March 2021 | 16:36pm
StockMarketWire.com - A lacklustre start to trading on Wall Street contributed to the FTSE 100 losing its way on Monday as its earlier gains were surrendered to see the index trade down 0.2% at 6,748.09 by the close.
Subprime lender Provident Financial plunged 27.4% to 190p after it revealed UK regulators were investigating its consumer credit division, focusing on the affordability and sustainability of lending practices.
Provident Financial said it was planning to spend up to $65 million addressing customer complaints in the division, which it said might be forced into liquidation if its plan was rejected.
Gambling company Flutter rallied 6.9% to £168.80 on confirming press speculation that it was mullling a US listing of its FanDuel business.
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Traders could be getting a new way to get in on the action over online sports betting.
What Happened: Ireland-based
Flutter Entertainment Plc (OTC: PDYPY) is considering a spinoff in the US with an IPO among the options for its company FanDuel, Bloomberg and CNBC have reported.
Flutter in December announced that it was paying $4.2 billion to increase its stake in FanDuel to 95%. But pressure is mounting from investors who expected that to be the lead-up to a spinoff of FanDuel, CNBC reported. Flutter shares have been trading at a discount to competitor DraftKings, to investors frustration.
Fox Corporation s (NASDAQ: FOX) Fox Sports could complicate or slow any potential deal. Fox Sports holds a 2.5% stake in Flutter and has an option to buy an 18.5% stake in FanDuel in July.
The FOX Bet Super 6 is offering players a chance to win $10,000 in this week's Quiz Show game, featuring questions on Sunday night's Grammy Awards and more.