FTSE rebounds as rumors are dispelled

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 Exp...