Ted Baker warns on profits, Smith & Nephew to buy Switzerland's Atracsys

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Smith & Nephew said it was buying Switzerland's Atracsys, a provider of optical tracking technology used in computer-assisted surgery, for an undisclosed sum.

Atracsys' fusionTrack 500 system offers superior measurement speed and latency performance, supporting reduced procedure times, as well as increased accuracy resulting in finer precision surgical tasks, such as bone cuts, compared to existing tracking technology, Smith & Nephew said in a statement.

The acquisition was expected to complete during the third quarter of 2019, it added.

Compass Group has agreed to buy Nordic food catering business Fazer Food Services for around €475m.

Compass said the deal is "very attractive" for the group, which already a presence in the region.

The company's chief executive officer, Dominic Blakemore, said: "Fazer Food Services is a highly regarded food service business in the Nordic region, and like Compass, is focused on high-quality food, culinary innovation, sustainability and great customer service.

"I am excited that, together with our existing colleagues in the region, we will be able to further enhance our customer proposition in the Nordic market."

Ted Baker warned on profits as it said it faces "extremely difficult trading conditions".

The fashion retailer now expects underlying profit before tax in the range of £50m to £60m in the year ended 25 January 2020. This compares with a pre-tax profit excluding exceptional items of £63m posted in its last full year.

Newspaper round-up

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US close

Wall Street stocks extended their recent rally into a fifth day on Monday amid positive news coming from Washington regarding border control negotiations with Mexican officials.

At the close, the Dow Jones Industrial Average was up 0.30% at 26,062.68, while the S&P 500 closed 0.47% firmer at 2,886.73 and the Nasdaq saw out the session 1.05% stronger at 7,823.17