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London open: Gains short-lived

Mon, 04th Oct 2010 08:37

Renewed interest in the insurance sector and strong miners nudged London into positive territory, but Monday morning blues soon kicked in and stocks are now in the red.Reports in his morning's papers reveal RSA, Resolution, Switzerland's Zurich Financial Services and Germany's Allianz discussed mounting a multibillion-pound break-up bid for Aviva. Its shares are among the early performers.Antofagasta, Anglo American and Kazakhmys had risen. The World Steel Association has also predicted that global steel demand will hit levels next year not seen since before the financial crisis. But banks are weaker. Economic think-tank, the New Economics Foundation (NEF), reckons we could be heading for another credit crunch, with taxpayers having to fill a £25bn-a-month funding gap. Barclays is down.The launch of the Banking Commission may also have killed off hopes that taxpayers may soon see a return from the investment in Lloyds Banking and Royal Bank of Scotland (RBS), according to reports.Meanwhile, the market is preparing for chancellor George Osborn's speech calling on Britain to back spending cuts on 20 October or face "crippling economic instability".Elsewhere, Hovis bread and Branston Pickle owner Premier Foods has confirmed reports in the weekend papers that offers have been made for its meat free business that includes Quorn.And it's been a morning of musical chairs in Britain's board rooms.Steve Lucas, the finance director of energy pipeline grid operator National Grid is to retire from the board at the end of this year. His replacement will be ex-Cadbury chief financial officer Andrew Bonfield.Consumer electronics retailer Kesa Electricals has appointed Alan Parker, chief executive of hotels and coffee house group Whitbread to its board as a non-executive director.The chief marketing officer at Ukrainian iron ore producer Ferrexpo has resigned. Simon Wandke who joined the Swiss headquartered resources giant in 2006, will leave at the end of the year.Struggling Yellow Pages publisher Yell has brought in Tony Bates, former chief operating officer at telecoms operator Colt Group, to run its finance function. Bates, who becomes finance boss when Yell reports second quarter results on 9 November, replaces John Davis who announced his departure along with chief executive John Condron in May.

More News

25 Nov 2022 07:19

Finncap tumbles as takeover talks with Panmure end

(Sharecast News) - FinnCap tumbled on Friday after it said that takeover talks with Panmure Gordon had ended.

18 Oct 2022 08:08

FinnCap in early takeover talks with Panmure Gordon

(Sharecast News) - Investment bank FinnCap confirmed on Tuesday that it has received indicative non-binding takeover proposals from rival Panmure Gordon.

5 Jul 2021 23:14

HydrogenOne Capital Growth to pursue London listing

(Sharecast News) - HydrogenOne Capital Growth will become the first London-listed investment fund focused on clean hydrogen if its plans to float succeed.

31 Jan 2021 21:49

Sunday newspaper round-up: Vaccine supplies, Debenhams, The Queen

(Sharecast News) - The UK could help the EU and other nations with coronavirus vaccine supplies even before the domestic vaccination programme has been completed, the international trade secretary, Liz Truss, has said. As ministers sought to smooth relations with Brussels after the EU's much-criticised and swiftly rescinded decision to impose a vaccine border between Northern Ireland and the Republic of Ireland, Truss sought to stress the need for international cooperation. - Guardian

16 Jan 2017 15:23

Panmure Gordon CFO Philip Tansey to step down

(ShareCast News) - AIM-listed institutional stockbroker and investment bank Panmure Gordon said Philip Tansey has served notice of his intention to step down from the board and is leaving the company as chief financial officer at the end of March. Current financial controller Anthony Saroli will tak

22 Sep 2016 10:56

Panmure Gordon to invest up to £2m in PrimeXtend

(ShareCast News) - Institutional stockbroker and investment bank Panmure Gordon will make a cash investment of up to £2m in PrimeXtend, a business focused on the evolution of agency broker services. The investment will be made over a period of ten months, subject to the satisfaction of certain perfo

22 Sep 2016 10:03

Panmure Gordon Makes Strategic Investment In PrimeXtend

7 Aug 2016 15:33

Sunday newspaper round-up: Interest rates, EU single market, IHG, Poundland

(ShareCast News) - Savers face five more years of record-low returns, with investors betting that the Bank of England will not undo last week's interest rate cut before the end of the decade. City traders expect Bank governor Mark Carney to slash borrowing costs again before the end of the year, the

7 Aug 2016 07:48

PRESS: Mehmet Dalman Fund Eyes Bid For Panmure Gordon - Sunday Times

18 May 2016 07:33

Outgoing Panmure Gordon Chairman Says 2016 Has Started Well

11 May 2016 15:05

AGM, EGM Calendar - Week Ahead

3 May 2016 08:48

Panmure Gordon Picks Adcock To Replace Warner As Chairman

1 May 2016 18:03

Sunday newspaper round-up: Sports Direct, BHS, Barclays, Smiths, Cobham

(ShareCast News) - Sports Direct boss Mike Ashley has offered to buy collapsed retailer BHS, saving its entire store estate and thousands of jobs. Although the tycoon was unable to agree a deal before administrators were called in last Monday, Ashley confirmed to the Sunday Telegraph: "Any continuin

13 Apr 2016 09:04

New regulations to help smaller brokers compete in London IPO market

(ShareCast News) - Smaller brokers and investors could all find it easier to compete in the UK's initial public offer (IPO) market in future, according to new investment banking proposals put forward by the City regulator. To remedy several issues spied during its study into the investment and corpo

1 Apr 2016 18:00

Friday newspaper share tips: Panmure Gordon, Grainger

(ShareCast News) - Panmure Gordon has a tough road ahead of it, the Financial Times´s Lex column believes. The pool of banking fees which the UK´s small stockbrokers and investment banks can opt for is simply not large enough to sustain all of them given the decline in broking margins. About £5.4bn

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