Shares in embattled bakery group Aryzta soared 15% this week, after the group announced it had struck a deal with five international banks that will allow the company to move ahead with plans to raise €800m in fresh capital from financial markets in a bid to strengthen its balance sheet and reduce debts.
Aryzta said it had struck underwriting agreements with Bank of America Merrill Lynch, UBS, Credit Suisse, JP Morgan and HSBC. Investors reacted positively to the announcement, pushing shares above €9 this week.
Although Aryzta shares are still more than 70% lower than where they were at the start of 2018, the positive market reaction this week will be a relief to under-pressure CEO Kevin Toland.
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There was also strong gains for shares in Greencore this week. They jumped almost 11% in trade to reach their highest level in eight months at £1.94.
Oil markets continue to hover around the high 70s mark. The price of Brent crude oil is trading above $78/barrel this week, but has yet to break the $80 benchmark.
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Shares in embattled bakery group Aryzta soared 15% this week, after the group announced it had struck a deal with five international banks that will allow the company to move ahead with plans to raise €800m in fresh capital from financial markets in a bid to strengthen its balance sheet and reduce debts.
Aryzta said it had struck underwriting agreements with Bank of America Merrill Lynch, UBS, Credit Suisse, JP Morgan and HSBC. Investors reacted positively to the announcement, pushing shares above €9 this week.
Although Aryzta shares are still more than 70% lower than where they were at the start of 2018, the positive market reaction this week will be a relief to under-pressure CEO Kevin Toland.
There was also strong gains for shares in Greencore this week. They jumped almost 11% in trade to reach their highest level in eight months at £1.94.
Oil markets continue to hover around the high 70s mark. The price of Brent crude oil is trading above $78/barrel this week, but has yet to break the $80 benchmark.
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