Browsing: City AM

The back page of London business paper CITY AM says Tui shareholders have voted to ditch the London Stock Exchange in favour of Germany, in the latest major blow to the embattled bourse.

Shareholders voted 98.35 per cent in favour of the decision at the travel giant’s annual general meeting, having required 75 per cent backing for the plans to go through.

The front page of the London business newspaper City AM reports on the Barratt-Redrow merger. The paper says the £2.5bn merger of two of the UK’s largest housebuilders sent shockwaves through the market. 

The paper says shares in major FTSE 100 and 250 housebuilders suffered a mixed day on the London market, as the surprise merger highlighted investors’ skewed opinions on the state of UK housing.

CITY AM SAYS The City’s continued strength has helped push services to a record share of total exports, new research shows, but the relative weakness of the rest of the country has seen the UK slip internationally.