Trending tickers: Bitcoin, Vodafone, Barratt and Adobe

Briancon, France. 12th Mar, 2024. Illustrative image of the cryptocurrency Bitcoin (BTC), it was created in 2008, on March 12, 2024. Photo by Thibaut Durand /ABACAPRESS.COM Credit: Abaca Press/Alamy Live News
Bitcoin's rally appears to have run out of steam. (ABACAPRESS, Abaca Press)

Bitcoin (BTC-USD)

Bitcoin fell by almost 8% after a red-hot rally in digital assets. Prices could fall further even as traders continue to be bullish on the outlook for cryptos in the months ahead.

The cryptocurrency is now trading at around $66,977, down 8.2% on the day. The token set a fresh all-time peak of almost $73,798 a day earlier.

City Index analyst Matt Simpson said: "Bitcoin has an established history of getting volatile and ruthless after hitting a record high. And not only did it recently hit a record high, but it looks like the Federal Reserve won’t be as dovish as traders had hoped."

Vodafone (VOD.L)

Vodafone has confirmed the sale of its Italian business to Swisscom for €8bn (£6.8bn), weeks after rejecting an approach by French billionaire Xavier Niel.

The British telecoms giant also announced a €4bn (£3.4bn) share buyback plan.

On Friday, the London-listed company said the move represented an “attractive valuation” and marked the final step of its strategy to sell off parts of its European portfolio.

Read more: FTSE 100 LIVE: London rises and European stocks mixed amid mixed US economic figures

Swisscom will pay 100% cash in a move which will be fully debt-financed. As part of the transaction, the two firms have agreed that Vodafone will continue to provide “certain services” to Swisscom over the next five years.

Barratt (BDEV.L)

UK competition regulators on Friday said they were taking an initial look into Barratt's £2.52bn takeover of homebuilding rival Redrow (RDW.L).

The Competition and Markets Authority (CMA), which has not yet launched a formal investigation, is seeking initial views on the impact that the deal could have on competition in the UK.

Interested parties have until April 2 to submit their views before the regulator begins the next phase of its inquiry.

Read more: Lesser-known ways to save money on property

Barratt agreed to buy Redrow in early February to capitalise on a fledgling recovery in the housing market and cement its position as one of the largest homebuilders in the UK.

Adobe (ADBE)

Adobe reported fiscal first quarter results that topped Wall Street estimates on both the top and bottom lines but shares plunged as much as 11% in extended trading as it came up slightly short on quarterly revenue guidance.

Adobe’s revenue grew 11% year over year in the quarter, which ended 1 March. Net income decreased to $620m, or $1.36 per share, from $1.25bn, or $2.71 per share, in the same quarter a year ago.

The software company reported adjusted earnings per share of $4.48 compared to estimates of $4.38. Revenue of $5.18bn barely topped the $5.14bn expectation.

The company also announced a $25bn stock buyback programme.

Watch:Where AI fits into Adobe's outlook

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