London open: Flat start for Footsie
12th Mar 2010 08:39
Early gains have all now evaporated and Footsie has slipped into the red despite a good rally on Wall Street overnight. Financial are the best performers with the nearly all showing good gains. Lloyds, Royal Bank of Scotland and Barclays are all higher. Life groups Old Mutual, Legal & General and S
Read moreSector movers: Prudential plans boost insurance sector
8th Mar 2010 09:37
The life insurance sector is higher after investors gave a warm reception to Prudential's acceleration of its plans for a listing on the Hong Kong Stock Exchange. The Pru now wants the listing effective before its $20bn rights issue to help fund the purchase of AIG Asia. Peers Legal & General, Res
Read moreSector movers: Insurers move both ways
3rd Mar 2010 14:36
Insurance companies are in something of a state of flux. Life insurers are higher, largely due to a recovery in the share price of Prudential, which fell on Monday and yesterday after it confirmed it has agreed a deal to buy troubled US life group AIG's Asian business for $35.5bn. The acquisition
Read moreLondon midday: Market remains mixed
3rd Mar 2010 11:51
The market's indecision this morning was typified by the insurance sector where the blue-chip index's best and worst performers were to be found. RSA Insurance is the weakest blue-chip after the company said yesterday that it expects to make around £30m in payouts as a result of the Chilean earthqu
Read moreLondon close: Strong finish for FTSE 100
1st Mar 2010 16:30
The leading share index finished on a strong footing as strength in the mining sector and gains on the back of company updates helped offset a weak performance from financial stocks. Miners were in demand following a rise in copper prices following the earthquake in Chile, the world's number one p
Read moreFTSE movers: Pru falls on fundraising worries
1st Mar 2010 15:15
Prudential dominates the Footsie today with a sharp share price fall but the overall index is still higher on the day. Prudential may pay $35bn (£23bn) for the Asian business of troubled US insurer AIG, which would make it the biggest insurer in Asia. This has unsettled investors. Any deal would
Read moreLondon afternoon: Copper-bottomed advance
1st Mar 2010 14:15
Gains on mining stocks are more than offsetting losses in an insurance sector that has been rocked by the prospect of a huge rights call from Prudential. Confirmation that Pru may pay $35bn (£23bn) for the Asian business of troubled US insurer AIG has unsettled the insurers. Any deal would need to
Read moreLondon midday: Pru deal casts shadow
1st Mar 2010 12:01
Gains have been eroded steadily through the morning to leave the leading index up by a baker's dozen as Prudential slumps on rights issue fears and miners step back. Confirmation that Pru may pay $35bn (£23bn) for the Asian business of troubled US insurer AIG ate into London's early 60-point lead.
Read moreLondon open: Footsie strong despite Pru cash call looming
1st Mar 2010 08:46
Leading shares have started the week on a firm footing with miners strong, but the prospect of the Prudential shortly unveiling the largest rights issue ever seen in the UK has unsettled other life groups. Prudential is currently suspended while the details are sorted out. The group has confirmed w
Read moreConnaught FD buys after share price drop
2nd Feb 2010 16:35
Connaught finance director Stephen Hill has added 50,000 shares to his holding in the outsourcing company following the departure of its chief executive last Friday. Hill has invested £158,500 at 317p a share. This follows the purchase of 5,000 shares for 331p each on 29 January. Hill owns 177,660
Read moreWednesday newspaper round-up: Mervyn King, Cadbury, Google
20th Jan 2010 06:32
The Governor of the Bank of England piled pressure on the Chancellor to specify sharp spending cuts in his March Budget or risk a damaging backlash from the markets. Mervyn King said that the patience of Britons was likely to be "sorely tried" over the coming years, with pay stagnating and inflatio
Read moreNo.2 shareholder says bid undervalues Cadbury
19th Jan 2010 18:01
Cadbury's second biggest shareholder, Legal & General Investment Management, said Kraft Foods' 850p a share offer for the British chocolate and gum company fails to fully reflect the long term value of the company. Mark Burgess said on behalf of Legal & General Investment Management, which owns 5.1
Read moreLondon midday: Ferrero pulls out of Cadbury chase
13th Jan 2010 11:56
Oils and banks are dragging the Footsie down, with sentiment also soured by disappointing manufacturing output figures. While industrial production showed a 0.4% rise in November, better than the 0.3% rise economists had been predicting, manufacturing output remained unchanged from October's level
Read moreCadbury directors add to stakes
5th Jan 2010 16:19
Cadbury non-executive directors are showing their confidence in the confectionery company by adding to their shareholdings. They swapped part of their quarterly directors' fees for the shares. The share buying came before Nestle said that it would not bid for Cadbury and Kraft increased the cash ele
Read moreLondon close: Footsie ends year 22% higher
31st Dec 2009 12:48
More gains for FTSE 100 on the last day of 2009 capped a year of strong recovery from the ravages of the economic crisis. The leading share index posted a 22% rise - its best yearly performance since 1997 -as shares recovered from the sharp declines that began as the financial crisis intensified t
Read more