Smith & Nephew (SN.), Barclays (BARC), Wood Group (WG.), Marston (MARS) and Central Asia Metals (CAML)
Smith & Nephew (SN.) soared more than 7 per cent this morning after it was revealed activist investor Cevian Capital purchased some 44mn shares. The maker of knee and hip implants has struggled with falling US sales and supply chain issues in recent quarters – and the shares are down 12 per cent in the past year.
With around 5 per cent of all issued shares, Cevian is now Smith & Nephew’s third-largest shareholder. It has previously held stakes in groups including Vodafone (VOD) and Aviva (AV.). JJ
Read more: Can Smith & Nephew catch its medtech rivals?
Barclays says auf wiedersehen to Austria and Germany
Barclays (BARC) took a small step towards management’s stated aim of rebalancing the business by offloading its consumer banking division in Europe to Austrian bank BAWAG Group AG. The assets for Consumer Bank Europe comprise credit cards, consumer loans and deposits in the German and Austrian markets.
While Barclay’s did not disclose the proceeds it received from the sale, it had been reported that the bank was looking for €500mn (£424mn) earlier this year, the more significant benefit is that it frees up to €4bn of risk-weighted assets.
Francesco Ceccato, CEO, Barclays Europe said: "This transaction will also allow Barclays Europe to focus on its Corporate and Investment Banking and Private Banking businesses. We remain committed to our broader German and European operations and look forward to continued growth in the region during 2024 and beyond." JH
Read more: Will banking M&A pick up this year?
Marston’s confirms new chair
Pub operator Marston’s (MARS) has appointed Ken Lever as its new chair. Lever, chair at software business Cirata (CRTA) and a former Vertu Motors (VTU) director, will replace William Rucker on 8 July. The company announced in March that Rucker, who becomes chair at British Land (BLND) next week, was standing down from the Marston’s board. CA
