Sunday newspaper round-up: Elections, BP, Prudential
9th May 2010 12:03
Intense negotiations between the Conservatives and Liberal Democrats were underway in Whitehall on Sunday, as both sides attempted to agree an outline power-sharing pact before the markets open on Monday morning. David Cameron, Conservative leader, has offered Nick Clegg, the Lib Dem leader, cabinet
Read moreFriday newspaper round-up: Hung parliament predicted, Labour talking to LibDems
7th May 2010 06:30
In the UK election, the Tories are on course to be largest party but set to fall short of majority, as David Cameron's party fails to take many key target seats. Labour is pushing to form coalition with Lib Dems. The latest polls (at 6.00am) suggest the Tories will end up with 309 seats, Labour on 2
Read moreLondon close: Greece pulls Footsie down again
6th May 2010 16:43
Footsie ended the day sharply lower as Greece's problems reared up again and investors fretted about the outcome of today's election. Banks were hit hard as ratings agency Moody's warned that the UK lenders are "at risk of Greek contagion". Barclays, Royal Bank of Scotland, HSBC and even Asia-foc
Read moreLondon afternoon: Banks throw a Moody
6th May 2010 14:16
Footsie's morning gains evaporated over the lunch time session as fears over the debt crisis spreading from Greece reared up again. Banks were hit hard as ratings agency Moody's warned that the UK lenders are "at risk of Greek contagion". Barclays, Royal Bank of Scotland, HSBC and even Asia-focus
Read moreResolution in Prudential hint
6th May 2010 11:05
Insurance firm consolidator Resolution has hinted it may be in the running to buy the UK arm of Prudential. Chief executive John Tiner told reporters this morning its shareholders are ready to produce "significant further funding to finance an acquisition," adding that they were ready to put up thr
Read moreThursday newspaper round-up: Prudential, BP, Europe
6th May 2010 06:11
Tidjane Thiam's days running the Prudential could be numbered if he fails to pull off the takeover of AIA, analysts warned. The chief executive is facing criticism after the company was hit with its second major embarrassment since he took over from Mark Tucker last September in a blaze of largely f
Read moreLondon close: Late rally pares losses
5th May 2010 17:16
Though tomorrow is the day of the UK General Election all eyes were on Greece today, as at least three people were reported dead as violent protests erupted in central Athens against the planned introduction of austerity measures. Stocks came off the bottom towards the end of the session, though th
Read moreLondon afternoon: Greek riots rattle investors
5th May 2010 14:53
Footsie is now nursing a triple digit fall as the downward trend seen in the last hour of the morning session accelerated over lunch as US investors woke up to television footage of Greeks rioting in the streets. Civil unrest in Greece has sent the price of oil and metals into decline with a predic
Read moreLondon midday: Stocks turn south again
5th May 2010 12:19
Having recovered all the way back to last night's closing level shortly after 11:00am the Footsie headed south again for the remainder of the morning as the US futures markets suggested Wall Street will open lower. On a busy day for trading announcements Next is the most conspicuous faller despite
Read moreUpdate: Pru forced to delay record rights issue
5th May 2010 11:38
Insurer Prudential has had to postpone publication of its prospectus detailing the terms of a $21bn (£14bn) rights issue to fund the $35.5bn (£23bn) acquisition of AIG's Asian (AIA) businesses. The UK firm was due to release its timetable today, but it's still in discussions with the City regulat
Read moreLondon open: Heading lower again
5th May 2010 08:47
Footsie has turned sharply after a steady opening half-hour as a number of gloomy comments about consumer spending have hit sentiment already shaky following yesterday's heavy falls on global markets. Next expects profits this year to be at the top end of market forecasts after sales in the first
Read morePru delays cash call prospectus
5th May 2010 07:53
Insurer Prudential has had to postpone publication of its prospectus detailing the terms of its $20bn rights issue to fund the $35.5bn acquisition of AIG's Asian (AIA) businesses. The UK firm was due to release its timetable today, but it's still in discussions with the City regulator about the t
Read moreWednesday paper round-up: Sovereign debt, BP, Prudential
5th May 2010 06:32
Spain's Prime Minister was forced to deny that his country was seeking a financial rescue yesterday amid mounting concern that financial contagion from Greece was spreading. As world stock markets were hit by a wave of selling and the euro suffered another battering, José Luis Rodríguez Zapatero d
Read moreWednesday preview: Pru, L&G, Sage
4th May 2010 15:52
FTSE 100 companies Sage, Legal & General, Liberty International, Next and Prudential are scheduled to give trading updates on Wednesday while Chilean copper miner Antofgasta will issue a quarterly production report. The Pru will announce the terms of its $20bn rights issue to fund the acquisition o
Read moreTuesday newspaper round-up: Greece, BP, Lloyds Banking
4th May 2010 06:37
The European Central Bank executed an embarrassing U-turn on its lending rules yesterday in order to stave off the collapse of the Greek banking system. In a statement the ECB said that it was suspending a rule preventing it accepting junk-rated government bonds in return for loans. It said that th
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