Energy supplier Bulb to enter special administration; pandemic hits eurozone consumer confidence – as it happened

Rolling coverage of the latest economic and financial news

• Pandemic hits eurozone consumer confidence
• Full Story: Bulb Energy, which supplies 1.7m customers, collapses into administration
• Breaking: Bulb becomes biggest UK supplier to collapse in energy crisis
• Bulb: We're planning to enter special administration
• 1.7m customers affected - company says supplies will continue
• Uswitch: price cap pushed Bulb under
• More than 20 suppliers have failed since start of September

Shares in Marks & Spencer have jumped to their highest in two and a half years on reports that New York-based Apollo Global Management had mulled a buyout.

The Sunday Times reported that the US private equity giant has been running the rule" over the high street chain. City sources said Apollo had considered M&S a bargain, believing the company's shares were being weighed down unreasonably by the impact of Covid.

Apollo has flirted with other acquisitions in the UK grocery sector, losing out in its quest for Asda, and then pulling out after making advances for Morrisons. Given its thwarted attempts so far, there is growing expectation that the group may make an offer for the company, particularly given that food was such a star performer in the last set of results.

Apollo will be weighing up the future value of Marks and Spencer's e-commerce tie-up with Ocado, and speculation that its success so far may lead the retailer to buy out Ocado's 50% share indicates the weight of expectation about its growth prospects. However, shares have surged more than 27% since those impressive results and if the price continues to climb, there is a chance Apollo may turn into more of a reluctant suitor.