FTSE opens higher ahead of BoE rate decision, Sainsbury and CMC Markets rise - Market Report

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The FTSE 100 opened modestly higher ahead of the Bank of England's rate decision later today. In early trade, the index was up just under a quarter of a percent at 8,223. Among the movers, Sainsbury's is top of the leaderboard, up 2% after agreeing a deal to offload its core banking business to NatWest Group, even though it had to pay the lender £125 million to do it. CMC Markets PLC jumped 9.1% after following the recent deal with Revolut by announcing full-year results well ahead of consensus forecasts. Alpha Financial Markets Consulting is up another 3% on top of yesterday big jump, with the board formally backing a £626 million takeover by private equity group Bridgepoint. The fund management consultant said investors will receive 505p a share in cash, with the transaction expected to be completed in the third quarter, subject to a shareholder vote. On the downside, Tate & Lyle fell close to 7% as investors don't seem to like the sound of its $1.8 billion acquisition of US rival CP Kelco and £215 million share buyback. And YouGov plunged 41% after issuing a profit warning due to lower sales, mostly in continental Europe. #proactiveinvestors #marketreport #ftse #ftse100 #footsie #sainsbury #alphafmc #alphafinancialmarketsconsulting #tate&lyle #cpkelco #bridgepoint #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews