BUSINESS CLOSE: Bitcoin continues its surge to top $23k

BUSINESS CLOSE: Bank of England holds rates at 0.1%; Bitcoin continues its surge to top $23k; TalkTalk agrees £1.1bn takeover

The FTSE 100 has ended the day down 0.3 per cent at 6,551 as the pound soared just above $1.36 on reports that Britain and the European Union may be closing in on a deal. 

The domestically-focused FTSE 250 was also boosted by hopes of a Brexit deal, soaring 1 per cent to 20,296.

Meanwhile, bitcoin hit a new record high today after rising above $23,500. It comes just a day after smashing the $20,000 milestone for the first time.

In company news, TalkTalk has agreed a £1.1billion deal to be bought by Toscafund. The telecom giant’s  shareholders will receive 97p in cash per share, a 16.4 per cent premium to the share price on October 7 before the offer was first proposed. 

Two major product suppliers to the construction industry – Vp plc and M.G.F. – have been fined over £15million by the Competition and Markets Authority for illegally colluding to reduce competition and keep prices higher.   

SSP Group, the owner of the Upper Crust and Caffe Ritazza snack chains, has said it expects first-quarter sales to sink 80 per cent after it posted an annual pre-tax loss of £239.6million due to coronavirus-led travel restrictions. 

Deal: TalkTalk has now accepted a £1.1billion takeover offer from fund manager Toscafund

Deal: TalkTalk has now accepted a £1.1billion takeover offer from fund manager Toscafund

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