Markets

Updated: 15:38 EST

MARKET REPORT: Traditional Santa rally pushes FTSE to high

The blue-chip index hit 7603.98 points, up 78.76 points, or 1.1 per cent, as it leapfrogged past the previous record of 7598.99 set in June. The surge was led by hospitals provider Mediclinic, which finished up 7.3 per cent, or 43p, at 630p. The boost means that as the year draws to a close the FTSE is nearly 500 points higher than its level at the end of 2016 - largely driven by a lift given to big firms by the weak pound.

Shell is paying an undisclosed sum for the UK's seventh largest supplier which has around 800,000 customers and is thought to be worth around £500m.

The results will ramp up concerns over Booths finances, with the Lancashire-based supermarket reportedly looking for a buyer after being a family business for five generations.

William Waldorf Astor IV, pictured with wife Lohralee, the half-brother of the former PM's wife Samantha, has led a campaign against plans to slash ground rent paid by leaseholders to zero.

In an eleventh hour deal, the UK's biggest toy shop chain agreed to pay £9.8m into its retirement pot staving off the threat of it going in to administration three days before Christmas.

Wilkinson joins from Evans Cycles, where he was boss for five years. He has served as chief exec of Maxeda DIY, a Belgian and Dutch DIY retailer, as well as doing eight years at Dixons.

AIM-listed gold producer Hummingbird has poured first gold at its Yanfolila Mine in Mali. The mine is set to produce around 130,000 ounces of gold in its first year.

'Bee', 29, attended a business lunch there last year, where witnesses say she impressed guests such as Martin Sorrell and Mike Rake with humility and good grace.

Lena Wilson stepped down as head of quango Scottish Enterprise earlier this year after blowing public funds on a limousine company while on a junket in New York.

Rival Boeing had complained Bombardier was unfairly undercutting it in the US with the help of subsidies from Canada. Around 1,000 workers in Belfast, Northern Ireland, make wings for the firm.

There is nothing soft and cuddly about the way that the rapacious private equity owners of Toys R Us in Britain engaged in an exercise in brinkmanship on the eve of the Christmas break.

Max Conze was accused in High Court papers of leaking secrets but denied the allegations. He had threatened to counter-sue his former employer, where he worked for six years.

The company expects to make £33million next year from freehold reversion sales - profit that is now at risk following the Government's announcement.

How to invest for higher inflation: Buy banks and not beer

Investing for a low inflation world has paid off handsomely in recent years, as defensive shares with a reliable dividend have seen their prices rise substantially. But is it time for a different course of action? Better opportunities lie elsewhere believes Schroders' James Sym.

InterContinental Hotels Group said the corporation tax cut from 35 per cent to 21 per cent bill will reduce its effective tax rate 'by mid to high single digit percentage points' from January.

The heavy losses may cast doubt on its decision to begin investing in stores after initially only selling clothes online. Companies House accounts show Missguided lost £1.5m in the year to March 26.

Jim Ratcliffe says the £7.5m safari project with Asilia Africa, which includes three luxury lodges, will boost tourism, create jobs and discourage poaching.

Among the reasons that Corbyn plans for bringing utilities back into public ownership have such resonance is that industry regulators demonstrate little backbone.

The retailer has been criticised for the write off of a mystery £584.5m loan to a company based in the British Virgin Islands, a territory commonly used by companies for tax avoidance purposes.

Government borrowing fell in November, as ministers borrowed £200million less than a year ago. They needed £8.7billion to cover spending - the lowest figure for November since 2007.

Wizz Air has added three new routes from London Luton Airport starting in spring 2018. Flights are to Athens in Greece, Keflavik in Iceland, and Bari in Italy.

Former Shell director Malcom Brinded (pictured) is among fifteen ex oil bosses due to stand trial in Italy over alleged corruption over an £800m field in Nigeria.

ALEX BRUMMER: Tesco outfoxes regulator

Among the reasons that Corbyn plans for bringing utilities back into public ownership have such resonance is that industry regulators demonstrate little backbone. Only recently has water regulator Ofwat come to grips with debt structures based in the Caymans. Ofgem has had some success with its backing of energy comparison sites and easy switching but it has been a very slow burn.

Santa upstaged by Trump? Rally more to do with tax plan

The so-called Santa rally refers to the weeks before and immediately after Christmas during which shares have a tendency to collectively climb more than at other times of year. According to numbers run by investment director at Architas, Adrian Lowcock, since 1984 the FTSE 100, excluding dividends, has risen by an average of 2.5% during December. The index has only fallen six times out of 33 during December.

Embrace the march of the robots, says RUTH SUNDERLAND

Not only retail, but the world of banking and financial services is ripe for infiltration by robots which can easily relieve people of routine tasks. An insurance bot, for instance, could process a claim in seconds, instead of days, while a loan bot could handle a mortgage application far more quickly than a human being.

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