Volkswagen considering German plant closures and job cuts; UK factories report fastest growth in over two years – as it happened

German carmaker VW may make historic German plant closures in cost-cutting drive Despite Rightmove surging by over 20%, London’s blue-chip stock index is slightly lower this morning. The FTSE 100 has dropped by 11 points, or 0.13%, to 8366. Given cheap valuations on a historical basis as well as in comparison to many developed markets elsewhere, the UK has inevitably become something of a hunting ground. The latest potential target in the premier index is Rightmove, after comments from Australia’s REA Group that it was considering making an offer having identified a “transformational opportunity” in combining the two online property websites. After a delayed start to enable price equilibrium, Rightmove shares opened up by around 24% as investors await further details of a concrete bid. Continue reading...