Wednesday paper round-up: Prudential, Food prices, BAE Systems
3rd Mar 2010 06:36
Prudential has lost a fifth of its stock market value in just two days as Britain's biggest insurer battles to convince UK investors to pay up for its $35.5bn Asian expansion. Amid frenetic trading yesterday, shares in the Pru slumped a further 8% after dropping more than 12% on Monday, when it con
Read moreFTSE 100 movers: Standard boost
2nd Mar 2010 15:22
Financials and commodities are pushing the Footsie forward although Prudential is still falling back. Standard Chartered is rising ahead of its 2009 figures tomorrow. The Asia-focused bank is expected to announce profit before tax of $5.1bn. Market consensus is for earnings per share to fall somew
Read moreTuesday paper round-up: Sterling, Prudential, HSBC
2nd Mar 2010 06:38
The pound suffered its biggest one-day fall for more than a year yesterday amid the prospect of a hung Parliament and growing fears that this will prevent swift and decisive action being taken over Britain's public finances. Sterling crashed by more than four cents at one stage against the US dolla
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 moreSector movers: Miners on the march
1st Mar 2010 14:55
Miners are in demand following a rise in copper prices after the earthquake in Chile, the world's number one producer of the red metal. The earthquake shut down up to a fifth of the South American country's copper mining operations, but mines have already resumed operations. Kazakhmys, Fresnillo,
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 moreLondon pre-open: Pru eyes AIG's Asian jewels
1st Mar 2010 07:42
Leading shares are set to start the week on a firm footing with market traders anticipating the blue-chip Footsie index will start around 40 points higher. Life assurance group Prudential is sure to attract a lot of attention in early trading. The group has confirmed week-end press reports that it
Read morePrudential and AIG agree $35.5bn Asian deal
1st Mar 2010 07:01
Shares in Prudential slumped as the UK life insurer confirmed it has agreed a deal to buy troubled US life group AIG's Asian business for $35.5bn. The acquisition will be funded by a $20bn rights issue, the largest ever seen in the UK. The terms of the issue will be announced with the prospectus i
Read moreMonday newspaper round-up: Prudential to buy AIG Asia with record rights call
1st Mar 2010 06:36
Prudential has won the support of both AIG's board and the US government to buy the giant US insurer's crown jewel Asian assets for $35.5bn (£23.5bn), the Telegraph reports. The Times adds that the Prudential is poised to make the biggest cash-call in British corporate history to help to finance th
Read moreSunday newspaper round-up: M&S, HSBC, Prudential
28th Feb 2010 11:23
Shareholders in Marks & Spencer are preparing for a fresh showdown with the retail giant over the £1.13m pay package of Sir Stuart Rose, the executive chairman. Institutional investors want M&S to slash Rose's annual salary when Marc Bolland, the new chief executive, joins in May. One big sharehol
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 moreLondon open: Footsie marks time
13th Jan 2010 08:50
Last night's decline on Wall Street, its first of 2010, has tipped Footsie lower a little in early deals though the fall so far is modest. US stocks were hurt by weaker than expected fourth quarter results from aluminium producer Alcoa after hours Monday, while Chinese moves to cool bank lending an
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