Just Eat

Ticker JE.

Today's data summary

Market closed
% change
+1.84%
Price Pence
774.60
Change
+14.00
As of 14:25 18 Aug 2019
Market cap. Pound sterling
5,281.95 million
As of 14:25 18 Aug 2019

Latest updates

The growing hunger for takeaway food

Restaurants' fortunes are being transformed by technology
If you’re unfamiliar with Uber Eats, Deliveroo or GrubHub, that may soon change.

These technology companies are fast becoming the main source of hot food deliveries to people’s homes and offices – all for a fee or a cut of the price of a meal. 

It is all part of a shift in the way many young urbanites choose to eat in the US and UK, and it’s spreading around the world, as the BBC's Rob Young found out.

(Picture: Woman eating a hamburger. Credit: Getty Images)

FTSE risers and fallers

Some big moves in the FTSE 100 today.

Food delivery firm Just Eat led the risers climbing 6.41% to 786.80 after the market had time to digest its tie-up with Takeaway.com.

Paddy Power and Betfair owner Flutter climbed 6.13%, while Fresnilo rose 5.99%.

Stuck in the red was NMC Health which slumped 11.34%, following a fairly big fall yesterday.

Standard Life Aberdeen's figures failed to please and the pension and life firm fell 7.59%.

And Spirax-Sarco Engineering dropped 6.85%.

Just Eat leads the FTSE early risers

Just Eat rider
Getty Images

The FTSE 100 has just strayed back into positive territory this morning helped by a wide number of positive shares.

Leading the early risers is delivery firm Just Eat, which has recovered 1.91% to 745.30 today after falling yesterday after it announced a tie-up with with Takeaway.com.

JD Sports is up 1.58% at 591.00 while Prudential has reversed some of yesterday's losses by climbing 1.49% to 1,534.50.

Just Eat shares fall below Takeaway.com's offer price

Woman with Just Eat bag
Getty Images

Just Eat's shares fell by almost 3% after markets opened today to leave them trading below the price offered in a takeover bid by Dutch rival Takeaway.com.

Shares were changing hands for 722p this morning. That is less than the 731p offered by the Dutch firm last month.

Since the offer, shares have largely been trading above that level, a sign that investors expect a rival bidder to come forward offering a higher price.

But today's announcement that the pair had come to a further agreement, investors have sent Just Eat's share price down, a sign that they may be resigned to the deal getting done at the current price.

Just Eat and Dutch rival agree deal

Just Eat cyclist
Getty Images

Just Eat, which has been in merger talks with its Dutch rival Takeaway.com since at least last month, has come to further agreement with its new partner.

The pair have decided on a name, which - rather predictably - is Just Eat Takeaway.com.

They have also settled on a valuation for Just Eat's shares at 731p a piece. However, that is lower than the 736p they were trading at when markets closed on Friday, which could open the door to a rival bidder.

One analyst told the BBC last week that Just Eat could appeal to the likes of Amazon

FTSE up more than 1%

chart
BBC

The FTSE 100 is now up more than 1% at 7,643, 95 points higher, after a spate of acquisitions.

Just Eat is still leading the gainers, up 25% after announcing its deal with Takeaway.com.

The company which owns the London Stock Exchange - London Stock Exchange Group - is also soaring, up 15% to all-time highs.

The pound is falling - down more than 0.4% - at $1.2328 on no-deal Brexit fears.

When the pound falls it can boost the FTSE as the index is made up of international companies which get a boost to their foreign currency earnings.