In London, markets rebounded after last week's problems with malicious rumors on the trading floor, putting the FTSE 100 up 193.9 points (3.53%) to 5,689.1.
HBOS shares jumped after it was revealed management had bought £6m of shares, up 70.75 (14.93%) to 544.5p, while Yell Group added 17 points (12.32%) to 155p.
British American Tobacco shares fell as the UK Government discussed banning tobacco displays in shops, down 58 points (3.09%) to £18.22. Morrison lost 7.5 points (2.68%) to 272p.
On Wall Street, markets fell after last week’s recovery on the back of JP Morgan’s raised offer for Bear Stearns and the Dow Jones lost 30.12 (0.24%) to 12,518.52 in early trading.
Alcoa saw the biggest early gains, up 0.7 (2%) to 35.74, while American Express added 0.58 (2.11%) to 47.99.
JP Morgan Chase saw shares slide as the firm offered four times its initial offer for Bear Stearns, down 1.26 (2.71%) to 45.29, while Home Depot lost 0.71 (2.43%) to 28.55.
If you would like to comment on this story, contact:
Tel: 020 7484 9805
e-mail: [email protected]
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation