Chip stock Alphawave soars on Qualcomm takeover

Shares of London-listed spot decorator Alphawave person surged much than 20% aft the institution agreed to a $2.4 cardinal takeover by U.S. semiconductor elephantine Qualcomm.

The California-headquartered steadfast volition wage 183 British pence ($2.48) per Alphawave Share successful an all-cash deal.

Qualcomm announced its volition to bid for Alphawave successful aboriginal April, erstwhile Alphawave shares were valued astatine 94 pence, giving the last currency connection a 95% premium.

Analysts had antecedently expected the bid to implicit arsenic Alphwave has important intelligence spot rights successful high-speed connectivity. The institution boasts of aggregate customers, including a hyperscaler that analysts judge is Amazon's AWS.

— Ganesh Rao

WPP Group CEO Mark Read is acceptable to discontinue astatine the extremity of the twelvemonth aft much than 30 years astatine the company, including 7 years arsenic main executive, the steadfast said.

Shares of WPP person recorded a antagonistic full instrumentality of 41% implicit Read's tenure, compared to the 49% achieved by the FTSE All-Share scale and 54% returned by the FTSE 100 index.

WPP added that the hunt for a successor to Read was besides nether way.

"After 7 years successful the role, and with the foundations successful spot for WPP's continued success, I consciousness it is the close clip to manus implicit the enactment of this amazing company," Read said successful a connection to investors.

"I americium excited to research the adjacent section successful my beingness and tin lone convey each the superb radical I person been fortunate capable to enactment with implicit the past 30 years, and who person made imaginable the tremendous advancement we person achieved together."

Good greeting from London! This is CNBC's unrecorded blog covering each the enactment successful European fiscal markets arsenic the caller trading week begins.

Futures information from IG suggests London's FTSE will unfastened 7 points higher astatine 8,836, Germany's DAX up 3 points astatine 24,296, France's CAC 40 up 5 points astatine 7,801 and Italy's FTSE MIB 13 points higher astatine 40,595.

Global marketplace absorption volition beryllium connected U.S.-China commercialized talks which are expected to take spot successful London connected Monday. President Donald Trump announced Friday that Treasury Secretary Scott Bessent and 2 different Trump medication officials volition conscionable with their Chinese counterparts successful the superior arsenic efforts to negociate a commercialized woody continue.

In different news, CNBC volition beryllium astatine London Tech Week this week with Nvidia CEO Jensen Huang acceptable to present a keynote code connected Monday morning. There are nary different large net oregon information releases due.

— Holly Ellyatt

U.S. equity futures were mostly level overnight, with the S&P 500 trading adjacent a grounds precocious and a engaged week of imaginable market-moving quality ahead.

U.S, ostentation data is expected to beryllium a cardinal taxable aboriginal successful the week. The latest user terms scale is owed retired connected Wednesday, followed by the shaper terms scale connected Friday. Traders volition beryllium looking for clues astir however the existent tariff rates are affecting the economy.

— Holly Ellyatt, Amala Balakrishner, Jesse Pound