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Tue, 13th Oct 2009 12:14
Strong mining stocks are supporting the Footsie's quest to achieve a record breaking 12th successive day of gains today. Lonmin leads the mining sector higher after Goldman Sachs upgraded the stock to "neutral" from "sell". Kazakhmys and Antofagasta are the next best performers. Pearson remains th
Read moreFriends Provident has rejected another takeover proposal from Resolution and said it sees no basis for further engagement with the life insurance consolidator. Friends said it received a revised proposal from Resolution yesterday, but rejected it as the terms and structure of the proposal "remain w
Read moreGeneral Motors, the American carmaker, was believed to be weighing up three bids for its European business last night as it emerged that the German Government had demanded that Sberbank, the state-owned Russian lender, has a reduced role in any offer. Yesterday afternoon Magna, the Canadian car par
Read moreFriends Provident has rejected Resolution's latest takeover proposal, which it said is "flawed in a number of significant ways." The life group said it continues to believe that key elements of Resolution's structure and its governance arrangements are "totally inappropriate" in a public company co
Read moreLondon's top stocks remained in the same range and closed with good gains as financials and miners had a strong day. Wall Street starting higher also helped. Sentiment was lifted in the US after reports that lender CIT Group has obtained a last-minute emergency financing rescue deal worth $3bn. Ll
Read moreA strong start on Wall Street has kept Footsie in the blue though it has lost some of its early momentum. Lloyds Banking is the best performer on a weekend report it could post an interim profit despite enormous bad-debt provisions. Some of its most toxic sub-prime investments have clawed back bill
Read moreBlue chips have continued their recent surge with banks among the top risers as sentiment in the sector is boosted by last week's earnings reports from US rivals. Lloyds Banking is the best performer on a weekend report it could post an interim profit despite enormous bad-debt provisions. Some of i
Read moreFootsie has started the week well after the bumper gains seen on Wall Street at the end of last week. Lloyds Banking is the best performer on a weekend report it could post an interim profit despite enormous bad-debt provisions. Some of its most toxic sub-prime investments have clawed back billions
Read moreThis week's likely to start where we left off on Friday, with decent gains on the back of a late recovery on Wall Street at the end of last week. Futures prices are currently indicating an early rise of about 30 points. Life insurance consolidator Resolution has insisted that any deal with Friends
Read moreLife insurance consolidator Resolution has insisted that any deal with Friends Provident must see it take control of the enlarged company as it sweetened its offer with a cash element and dividend promise. Replying to Friends Provident's offer of a merger on its terms last week, Resolution chairman
Read moreThe Bank of England would be given sweeping new powers by a Conservative government to prevent another financial crisis, in a regulatory shake-up that would rip up Gordon Brown's 12-year-old tripartite system, the FT reports. George Osborne, shadow chancellor, will retreat from previous suggestions
Read moreInsurer Friends Provident is interested in an all-share merger with Resolution, but only if the buy-out specialist agrees its terms. The London-listed firm made its move just days after it rejected a "wholly inadequate" takeover approach from Resolution. "The board is open-minded about the benefit
Read moreFootsie put a sluggish start behind it to finish with good gains, helped by a strong showing on Wall Street. Friends Provident was the best performer after Clive Cowdery's new vehicle, Resolution , said it has received "constructive feedback" from the board of Friends over its merger approach and i
Read moreMergers and acquisition activity is keeping share prices bubbling as London makes a solid start to the week. Friends Provident is the best performer after Clive Cowdery's new vehicle, Resolution , said it has received "constructive feedback" from the board of Friends over its merger approach and i
Read moreReports in the Sunday Times that Lloyds Banking Group may report interim losses of £6.3bn are "entirely plausible", according to stockbroker Nomura. "The group itself has indicated it expects to be in loss for the year as a whole. It has also warned that corporate credit loss charges will be up to
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