The UK's benchmark index the FTSE 100 fell 43.40 points to 5853.40 in early trading with HSBC dow...
The UK's benchmark index the FTSE 100 fell 43.40 points to 5853.40 in early trading with HSBC down in price amid speculation the financial stock is to merge with Merrill Lynch. HSBC fell 16p to 875p taking 6 points off the Footsie in the process.
Dimension Data also fell 11p to 300p after announcing it had purchased Proxicom for $7.5 per share representing a 2.6% premium on the stock's Friday close.
British Telecom slipped 7p to 519p following last week's news that it is to commence a share-rights offer to help eliminate debt. Marconi lost 9p to 362p and Colt Telecom fell 23p to 813p.
Asia's markets reacted predictably to last week's announcement by the US Federal Reserve that its series of interest rates cuts could be drawing to a close. Both the Hang Seng and the Nikkei 225 fell in value.
Japan's Nikkei 225 fell 170.90 points to 13,873.02 with Sony down 2.5% to 9630yen and Toyota falling 1.5% to 4050yen. Hong Kong's Hang Seng lost 344.97 to 13,291.64 with HSBC 2.3% lower at HK$96.75.
The Singapore Strait Times fell 17.72 points to 1685.63 with DBS down 1.9% to S$15.50 while Australia's ASX200 lost 0.2% to 3382.20 with News Corp down 0.7% to A$18.31.
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