Ashmore returns to net inflows, Daily Mail sells US video platform
London open
The FTSE 100 is expected to open 16 points lower on Tuesday, after closing down 0.29% at 7,327.59 last Thursday.
Stocks to watch
Ashmore Group returned to net inflows into its funds in the three months to the end of March as investors regained confidence in emerging markets. Assets under management increased by $3.7bn during the third quarter, comprising positive investment performance of $2.3bn and net inflows of $1.4bn.
The owner of the Daily Mail newspaper has sold its US video sharing platform Elite Daily to Bustle Digital Group for an undisclosed sum. The sale is part of Daily Mail & General Trust’s strategy to concentrate its digital resources on MailOnline, particularly in the US using Snapchat Discover and on DailyMailTV, which will launch this autumn.
Exeter-based airline Flybe Group announced on Tuesday that its chief financial officer Philip de Klerk had resigned to take up the position of CFO at another unnamed company. The London-listed firm said de Klerk would remain as CFO of Flybe until 1 October 2017.
Newspaper round-up
UK households should brace themselves for steeper price rises after a leading accountancy body warned that protecting customers from higher costs is now “unsustainable” for businesses. Inflation has already started to bite with prices up 2.3pc in the past year as, despite fierce competition pushing retailers to delay price hikes, the weak pound has pushed up the cost of imports. - Telegraph
Property worth more than £400bn is set to cascade down from grandparents to younger generations in the coming decades, though only a minority of those under 45 are likely to benefit. According to research by the insurers Royal London about 4 million of the 17 million people aged 25 to 44 are in the “fortunate position” of being in line to inherit from grandparents who have bought property. - Guardian
Royal Bank of Scotland’s gambit to sidestep having to sell its Williams & Glyn business is under threat as smaller lenders mount a challenge, arguing that it does not go far enough to address competition concerns. Challenger banks are preparing to write to the European Commission objecting to the plan, which has the blessing of the Treasury and would enable the state-owned bank to avoid selling its 300-branch W&G operation. - The Times
One of Britain’s best loved breakfast cereals is expected to be gobbled up by the American cereal giant Post Holdings in a £1.4bn deal. The US maker of Golden Crisp and Cocoa Pebbles was tipped as the frontrunner in the race to buy Weetabix last month, and is expected to confirm the long-awaited deal when US markets open on Tuesday. - Telegraph
US close
Markets in the US finished in the green on Easter Monday - a normal trading day in New York - as bank stocks surged ahead and investors saw a geopolitically tense weekend end on a calmer note.
The Dow Jones Industrial Average was up 0.9% at 20,636.92, the S&P 500 added 0.86% to 2,349.01, and the Nasdaq 100 was 0.85% firmer at 5,399.20.