City snapshot: MPM snapped up by 3i Group in £125m deal

Premium pet food manufacturer MPM has been sold by ECI Partners to private equity investor 3i Group as the flurry of deals in the petcare space continues. Plus, Nestlé has acquired a majority stake in recipe kit business Mindful Chef for an undisclosed sum. And the FTSE 100 rallies after news of a victory for President-Elect Joe Biden.