Reckitt Benckiser, Frenkel Topping and Babcock

“Blue-chips started the week in positive territory, mirroring the mild gains on key Asian stock markets. Investors will be focused be on a raft of purchasing-managers’ indices from the UK, Europe and the US,” says AJ Bell Investment Director Russ Mould.

“Consumer goods giant Reckitt Benckiser was up in early trading after it confirmed that it had started a strategic review of its non-core food business, French's Foods. Reckitt will consider all options for the business which generated around £411m in sales last year, which was 5% up on a like-for-like basis on 2015 but only 4% of the group’s net revenues. Reckitt’s shares were up by over 0.6%.

“Independent financial advisor Frenkel Topping’s shares jumped after the board began a strategic review which includes a potential sale of the group. Frenkel Topping is a leading independent financial adviser and asset manager to people who have won personal injury or clinical negligence claims and its competitive positioning and potential has been enhanced by the Ogden discount rate review. Frenkel Topping’s were up by more than 7.8%.

“Babcock has been named as preferred bidder for all four elements of a Ministry of Defence programme to become the marine systems support partner for the Royal Navy's new Queen Elizabeth Class aircraft carriers and Type 45 destroyers. The possible deal is worth around £360m over seven years.”

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