Marston’s shot to the top of the highest risers ranking on the FTSE today, its share price more than doubling over the course of trading. Perhaps it was a sign of investors daydreaming about heading to the pub ahead of a long weekend, although it was more likely to be in response to the company’s bumper deal with Carlsberg announced today.
In a £780m tie-up, Marston’s will take 40% of a joint venture with Carlsberg UK to form Carlsberg Marston’s Brewing Company. The company also takes a £273m payment, leaving Carlsberg with 60% of the new venture.
Marston’s says it will use the deal to “refocus” on its pub ownership business. Its shares finished the day at 66p, up 102% and at a post-lockdown high.
Just behind the company on the highest riser list was intu, which today outlined plans for reopening non-essential stores across its 14 shopping centres. The shares were up more than 11% at 4.8p.
At close, the FTSE 100 was down 0.36% at 5,993. The FTSE 250 was up 0.08% at 16,398.
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