BBC ETF

AMC Networks has rolled up BBC America, paying $42 million in cash for the cable network. The news was disclosed in the company's third-quarter earnings release. The transaction, which gives AMC Networks the 50.1% of the network that it did not previously have, closed November 1.

The BBC collected £3.66 billion in licence fee income in the 2023/24 financial year, down 2% from the previous year, according to the state broadcaster's annual report. There were 23.9 million licences in force as of 30 April, down half a million from 24.4 million the previous year.

Wall Street was moderately upbeat last week with the S&P 500, the Dow Jones and the Nasdaq gaining 0.87%, 1.6% and 0.3%, respectively. However, the small-cap index – the Russell 2000 – has advanced 6% as consumer inflation print came in at cooler-than-expected.

June inflation data has deepened the market's confidence that the Fed would begin cutting interest rates in September, leading to a sector rotation from the hot technology sector to the laggards that could benefit from falling rates like industrials and small caps.

Wall Street surged to close out February with the S&P 500 and Nasdaq Composite notching their best February since 2015.

The S&P 500 hit a new high for the year last week after the November jobs report and University of Michigan consumer survey data indicated a resilient economy and cooling inflation, triggering bets on a so-called soft-landing scenario.

The third-quarter was an average-to-downbeat period for investors, mainly due to rising rates.

Wall Street offered a moderate-to-downbeat performance last week.