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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 moreGains 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 moreGains 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 moreLeading 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 moreConnaught finance director Stephen Hill has added 50,000 shares to his holding in the outsourcing company following the departure of its chief executive last Friday. Hill has invested £158,500 at 317p a share. This follows the purchase of 5,000 shares for 331p each on 29 January. Hill owns 177,660
Read moreThe Governor of the Bank of England piled pressure on the Chancellor to specify sharp spending cuts in his March Budget or risk a damaging backlash from the markets. Mervyn King said that the patience of Britons was likely to be "sorely tried" over the coming years, with pay stagnating and inflatio
Read moreCadbury's second biggest shareholder, Legal & General Investment Management, said Kraft Foods' 850p a share offer for the British chocolate and gum company fails to fully reflect the long term value of the company. Mark Burgess said on behalf of Legal & General Investment Management, which owns 5.1
Read moreOils 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 moreCadbury non-executive directors are showing their confidence in the confectionery company by adding to their shareholdings. They swapped part of their quarterly directors' fees for the shares. The share buying came before Nestle said that it would not bid for Cadbury and Kraft increased the cash ele
Read moreMore gains for FTSE 100 on the last day of 2009 capped a year of strong recovery from the ravages of the economic crisis. The leading share index posted a 22% rise - its best yearly performance since 1997 -as shares recovered from the sharp declines that began as the financial crisis intensified t
Read moreFinancial stocks are driving the market higher, with banks and insurers featuring prominently among the best performers. In the banking sector RBS, Lloyds and Barclays rack up the best gains while among insurers Standard Life, Legal & General and RSA are to the fore. Property stocks, however, are
Read moreDespite being weighed down by a number of ex-dividend stocks, Footsie finished the day in positive territory, with gains on miners outweighing losses on banks. With metals prices hardening, miners were in demand. Lonmin was the best performer after being raised to 'buy' by Investec, which also upgr
Read moreLegal & General today announces the appointment of John Stewart as non-executive chairman of the insurer in succession to Sir Rob Margetts. Stewart will become chairman-designate from 1 January 2010 and will succeed Sir Rob with effect from 1 March 2010. Sir Rob will stand down from the board with
Read moreHMV has been benefiting from the demise of competitors and is likely to continue doing so, says the broker Charles Stanley as it keeps its 'buy' rating on the music, film and video game retailer. Charles Stanley is not signed up to the scepticism about HMV's long term prospects expressed by other o
Read moreMost of the threat from the latest Solvency 2 proposals is unjustified and is unlikely to materialise, says Nomura, leaving it upbeat about prospects for UK insurers. The broker notes growing industry and political opposition to Solvency 2, a fundamental review of the capital adequacy regime for th
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