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12/02/24 Briefing

Dealmaking in the City continues to enjoy an upturn after two property firms today unveiled a tie-up that will create a venture big enough for the FTSE 100 index.

Tritax Big Box, the owner of major warehouses used by retailers, will have a value of about £4 billion through its £924 million offer for UK Commercial Property REIT.

As well as the recent flurry of merger deals, traders are looking ahead to a busy week of economic updates including inflation figures in the UK and United States.

Key Points

  • Warehouse firms to create £4bn venture

  • Big economic week ahead

  • Heathrow reports strong month

FTSE 100 closes flat ahead of big economics week

The FTSE 100 has closed flat at 7,573.69 today, with trading subdued ahead of a big week of economic data.

Ocado, Frasers and Burberry were the top risers, while Rolls-Royce, AstraZeneca and GSK were the biggest fallers.

Tomorrow, investors will digest the latest employment data, before inflation on Wednesday, GDP - and the verdict on recession - on Thursday and retail sales on Friday.

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