London afternoon: Shares stay strong
17th May 2010 15:19
A sluggish start on Wall Street has failed to dent sentiment in London, where stocks are higher following Friday's slide. Life insurer Prudential's announcement of a rights issue has barely moved the stock. Much of the news from the Pru was leaked beforehand, but an 11-for 2 rights issue still repr
Read moreLondon midday: Shares strong after recovery
17th May 2010 12:47
Footsie is posting good gains as sentiment picks up following the slide on Friday. Life insurer Prudential's announcement of a rights issue has barely moved the stock. Much of the news from the Pru was leaked beforehand, but an 11-for 2 rights issue still represents an eye-watering number of new s
Read moreLondon open: Markets recover despite Pru cash call
17th May 2010 08:48
London's blue chips have confounded predictions of a weak start and made an encouraging start despite the huge rights issue unveiled by life insurer Prudential. Much of the news from the Pru was leaked beforehand, but an 11-for 2 rights issue still represents an eye-watering amount of new shares in
Read moreLondon pre-open: Prepare for sell-off
17th May 2010 07:27
Major concerns about Europe's debt crisis look like spilling over into another week, with London set to reflect Friday's big losses on Wall Street and more selling in Asia this morning. City experts predict the FTSE 100 will start the session down 63 at about 5,200. It's not only equities that ar
Read morePrudential launches massive AIA rights call
17th May 2010 07:07
Life insurer Prudential has finally launched its delayed rights issue to finance the $35.5bn acquisition of AIG's Asianbusinesses (AIA), with the new shares priced at an 80% discount to the market price on Friday. Prudential had to delay the share issue for nearly two weeks after the Financial Serv
Read moreMonday newspaper round-up: Prudential, Inflation, BP
17th May 2010 06:46
Prudential was poised last night to launch its long-awaited $21bn rights issue, the largest in British corporate history, to fund its controversial $35.5bn takeover bid for AIA in Asia. Britain's leading insurer and its advisers were finalising the prospectus for the AIA purchase, the biggest insur
Read moreSunday newspaper round-up: Euro, British Airways, Prudential
16th May 2010 09:58
The euro is set to slide further and could be heading for parity with the dollar, analysts say. The single currency's weakness and mounting fears over Europe's recovery prospects could hit growth in Britain. The euro fell to a 19-month low against the dollar of $1.23 on Friday night, amid fears th
Read moreFriday newspaper round-up: UK hedge funds, Prudential,
14th May 2010 06:39
European Union countries led by France and Germany plan to push through controversial new hedge fund regulations next week after turning down British pleas to defer a vote in Brussels. The refusal by Paris and Berlin to delay a decision on the rules, which are opposed by the UK, has set up a bruisi
Read moreLondon close: Blue chips make healthy gains
13th May 2010 16:33
London's top stocks rallied near the close to finish well up on the day as traders speculated on possible measures to cut the UK's debt burden. A VAT rise to 20% is a likely measure according to a group of economists questioned by the BBC. Justin King, chief executive of supermarket Sainsbury's,
Read moreLondon afternoon: Footsie still in the blue
13th May 2010 15:06
London's top stocks are easing down towards the close after a flat start on Wall Street and some calming down of the excitement over the plans of the new Conservative-Liberal government. The focus now is on just how they new government intends to get the UK's debt levels down, with a VAT rise to 20
Read moreLondon midday: BT leads market higher
13th May 2010 12:07
London's top stocks are making good gains helped by BT's full-year numbers and a decent showing from the miners. BT is the strongest riser on news that telecoms giant returned to the black in the last quarter and the full year and reported a 6% rise in the dividend. Pre-tax profit hit £1.01bn in th
Read moreThursday newspaper round-up: Prudential, banks, BP
13th May 2010 06:34
Prudential hopes to launch its delayed $21bn (£14bn) rights issue early next week after agreeing to changes to the financing of its propoosed $35.5bn takeover of AIA, the Asian businesses of the stricken US insurer AIG, according to the FT. Britain's giant lenders are facing the threat of extinctio
Read moreTuesday newspaper round-up: Sterling, British Airways, Prudential
11th May 2010 06:34
Sterling dropped by more than a cent against the dollar, while the euro gained a penny against the pound, after Gordon Brown's unexpected announcement that he will manage negotiations with the Lib Dems before standing aside as Labour leader. His announcement came only minutes after the FTSE 100 com
Read morePrudential still haggling with FSA
10th May 2010 11:40
Embattled life insurer Prudential is contemplating re-jigging the terms of the funding of its $35.5bn acquisition of AIG's Asian arm in a last-ditched attempt to get approval from the Financial Services Authority. Prudential stunned the market last week when it postponed publication of its prospect
Read moreMonday newspaper round-up: Europe agrees €750bn bail-out fund
10th May 2010 06:36
Global authorities have announced audacious coordinated action to combat escalating financial market tensions triggered by worldwide fears over public finances. The European Central Bank announced early Monday morning it would intervene in government bond markets and join the US Federal Reserve and
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