Tuesday newspaper round-up: Prudential, Apple, Deflation
25th May 2010 06:40
Prudential's market debut in Hong Kong fizzled this morning as the stock dived by more than 2.5% in the first half hour of trading over fresh concerns for the prospects of its planned $35bn takeover of AIA. The plunge, if sustained over coming days, could cast a dark cloud over Prudential's impend
Read moreLondon afternoon: Back to square one
24th May 2010 13:42
Footsie has limped back into positive territory, helped by an about turn by the mining stocks. After spending the morning down in the dumps Rio Tinto is now the best performing mining stock as metal prices head northwards. Fellow mining stocks Xstrata and Anglo American join Rio on the rise but S
Read moreLondon midday: Resource stocks under the weather
24th May 2010 12:35
Resource stocks have driven the Footsie into the red after a bright start. The oil disaster in the Gulf of Mexico has cost BP about $760m (£525m) so far and the under-fire oil giant faces being "pushed out of the way" if its clean-up operation doesn't do better. So far 23,000 claims have been fi
Read moreLondon close: Shares limp higher
24th May 2010 10:50
On an largely directionless day for Footsie, the leading share index was just a few points higher at trading's close. Shares in BP were under pressure again. The oil giant followed what has become a daily update on the oil leak situation in the Gulf of Mexico with an announcement that it will pay
Read moreLondon open: Bright start in London
24th May 2010 08:49
London has made a bright start in all senses with the index picking up handily and the weather matching it. Prudential is the best performer on reports that US firm AIG has drawn up plans to float its Asian arm again if the Pru's attempts to buy it collapse. Miners are also going well on the rally
Read moreMonday newspaper round-up: British Airways, European banks, BP
24th May 2010 06:48
Hundreds of British Airways flights were expected to be cancelled because of a cabin crew strike today despite an eleventh-hour peace overture from the Unite union. The airline remained focused on flying as many passengers as possible throughout the first of three five-day strikes even though Tony
Read moreSunday tips round-up: Prudential, Templeton & JPMorgan ITs
23rd May 2010 11:19
The Pru holds a series of meetings on June 7 at which shareholders will vote on the deal and the rights issue. Thiam and his colleagues are trying hard to persuade their largest shareholders that this deal is in their best long-term interests, but there is a chance that the entire transaction will b
Read moreSunday newspaper round-up: BA, Prudential, HSBC
23rd May 2010 10:59
Talks aimed at averting a series of strikes by British Airways cabin crew were abandoned on Saturday after scores of demonstrators stormed the building where the meeting was being held. Police were called to the headquarters of the conciliation service Acas after members of the Socialist Workers P
Read moreThursday's newspaper round-up: Government, BP, Lloyds
20th May 2010 06:10
Final coalition agreement may include phasing a cut in the headline rate and alternatives to a sharp cut in the rate of capital allowances originally proposed by the Tories, reports the FT. Chancellor wants most competitive corporate tax regime in G20 by cutting rates and reforming rules driving fi
Read moreWednesday tips round-up: Prudential, Drax, Britvic
19th May 2010 06:45
If you can't afford the rights - or are unwilling to stump up the cash - the Telegraph thinks it is best to sell all of your Prudential holding alongside your rights, rather than be diluted out of the dividend and earnings to this extent. Sell up and walk away. Hopefully investors who do this will
Read moreBroker tips: Prudential, British Land, Tomkins
18th May 2010 12:11
Prudential launched its delayed £14.5bn rights issue yesterday, but needs a huge PR drive to convince shareholders' the cash call to fund its purchase of AIA Group is worth backing. The insurer must win the support of 75% of shareholders at its General Meeting on 7 June which can "in no way can be
Read moreLondon midday: Decent morning for Footsie
18th May 2010 12:10
Footsie has made decent progress this morning helped by gains for utilities and the non-bank and insurance bits of the finance sector. Man Group is the best performer on reflection of yesterday's deal to buy GLG for $1.6bn. Inter-dealer broker ICAP is also in demand, while mezzanine finance lende
Read moreBroker snap: Pru must convert the doubters
18th May 2010 11:19
Prudential launched its delayed £14.5bn rights issue yesterday, but needs a huge PR drive to convince shareholders' the cash call to fund its purchase of AIA Group is worth backing. The insurer must win the support of 75% of shareholders at its General Meeting on 7 June which can "in no way can be
Read moreTuesday newspaper round-up: British Airways, Jupiter Asset, Prudential
18th May 2010 06:38
British Airways has been granted an injunction to stop the Unite union from carrying out cabin crew strikes that had been due to start at midnight tonight. The High Court ruling, based on a technicality in the balloting procedure, is set to delay the start of the first of a four five-day strikes pl
Read moreLondon close: Flat finish for FTSE 100
17th May 2010 16:51
A late slide on the back of weakness in the US resulted in a flat finish for FTSE 100, which had been buoyant for most of the day following a recovery after Friday's slide. Life insurer Prudential's announcement of a rights issue barely moved the stock. Much of the news from the Pru was leaked befo
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