Trading on the FTSE indices is somewhat mixed this morning, so the main mover to watch is Prudential, after the life group announced it would not now sell its stake in Egg, the internet bank.
The FTSE 100 index is currently down 5.4 points or 0.12% to 4,410.3 and Pru’s share price is already down 17p or 3.76% to 435.25p this morning, as analysts have not reacted well to its plans to hold onto the stake for now.
Elsewhere, there are no significant movers as all the focus seems to be on Pru.
RBOS is having another bad day after yesterday watching its share price fall, on the back of suggestions it may buy Abbey National plc. RBOS’ share value is currently down 43p or 2.76% to £15.16.
Antofagasta is also down 22.5p or 2.24% to 982.5p while BOC Group, the energy company, has lost 33.5p or 3.59% to 900p.
In the other direction, BAE Systems is one of the few companies to stay afloat having so far gained 3.25p or 1.53% to 215.75p.
BP is also up after the oil price hit a record high again yesterday, on the prospect of further terrorist attacks in the US. It share value is up 4.25p or 0.83% to 516.5p as a higher oil price could mean higher profits.
Compass Group is up 5p or 1.58% to 321.25p and HBOS has gained 7p or 1% to 704p.
In Asia, stock performance improved by the end of the day in Hong Kong thanks to results announcements from one of its major banks, however, Toyota’s strong profit was not enough to keep its own share price and the Nikkei afloat.
The Nikkei 225 index eventually closed down 0.7% to 11,140 as Toyota lost 1.4% to Yen4,370 however, the Hong Kong Hang Seng index closed up 155 points or 1.28% to 12,357 after HSBC Holdings reported record profits of $6.25bn.
IN the US, markets hold their ground better than expected as all markets stayed afloat. The Dow Jones index added 39.45 points or 0.39% to 10,179 while the Nasdaq Composite index rose 4.73 points or 0.25% to 1,892 and the S&P 500 index gained 4.9 points or 0.44% to 1.106.6IFAonline
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