A bid to buy ICI, the chemicals company, has lifted the FTSE in early trading this morning to place ...
A bid to buy ICI, the chemicals company, has lifted the FTSE in early trading this morning to place the FTSE 100 up 1.1% to 4063.8.
Interest in Imperial Chemical Industries has been sparked by a German magazine which reports German firm Henkel KgaA, which makes Persil among other products, may buy one of the divisions. As a result, ICI's share price is up 7.25p or 5.9% to 131p.
Other firms are looking pretty good too as Logica, the computer services group who shares were earlier up 2.75p or 1.9% to 147p is reported to be selling its radio planning business to a dutch rival, according to a Dutch newspaper.
Caledonia Investments, which owns a stake in several money managers and financial companies, is looking at restructuring the company in the hope it will help "realize" assets over a period of times. Trading is so far improved as the share price is up 1.5p or 2.6% to 839.5p.
And Wyevale Garden Centre, the largest garden centre retailer in the UK, climbed 7.5p or 2% to 386.5p after sales rose at least 2% in its stores which have been open for a year or more.
In Asia, Japan's Nikkei 225 index has had its best rally in 10 months because a report suggests national sales of personal computers have soared.
The Nikkei 225 Average index climbed 2.6% to 9795.16 by its close at 3pm today, led mainly by NEC Corp, after the computer firm reported its sales for the second week of June were up a fifth on last year. NEC's share price ended up 7.8% to Yen800.
The Taiwanese TWSE index leapt 3.3% because the Taiwanese government has plans to scrap the $3bn cap on the value of local stocks that foreign firms can hold.
Indications, unsurprisingly, are this will open the Taiwanese stock markets substantially and generate greater buying.
And in South Korea, the Kospi index ended up for the fifth day in a row after gaining 11.04 to 704.29. This time it was LG Electronics which led the run, after suggestions surfaced that the government may cut taxes and thus boost both the economy and spending.
In the US on Friday, however, trading didn't end too well as the three main indices closed down.
The Dow Jones closed down 72.63 points or 0/79% to 9,070.21 while the Nasdaq fell 15.27 or 0/91% to 1,663.46 and the S&P 500 index dropped 8.05 points or 0.81% to 985.70.
What made financial headlines over the weekend?
Q2 net sales dropped almost 50%
‘Important to have an anchor’
Lack of innovation for solutions