In London, shares were led by Northern Rock after news of a possible takeover and the FTSE 100 was up 7.7 points, or 0.11%, to 6,508.1.
News that private equity group JC Flowers had secured $15bn of funding to buy Northern Rock sent shares up 11.5 points, or 8.48%, to 147.1p, followed by Yell Group, which gained 9 points, or 2.06%, to 445.25p. Royal Bank of Scotland added 11 points, or 2.04%, to 549.5p, HSBC Holdings gained 18.5 points, or 2.03%, to 930p, while British Airways climbed 7.5 points, or 1.83%, to 416.5p.
Royal & Sun Alliance shares fell 4.4 points, or 2.82%, to 151.4p, Kingfisher lost 4.6 points, or 2.35%, to 191.5p, while Wolseley dropped 17.5 points, or 2%, to 859.5p.
On Wall Street, markets lost ground as many large cap shares were sold and the Dow Jones was down 40.24, or 0.29%, to 14,047.31.
General Motors shares were up as the company revealed it has seen sales growth in the US, up 1.00, or 2.77%, to 37.05, followed by Wal-Mart, which added 0.4, or 0.9%, to 44.87. JP Morgan Chase gained 0.35, or 0.75%, to 47.16, Home Depot shares climbed 0.2, or 0.6%, to 33.36, and American International added 0.36, or 0.52%, to 68.95.
Exxon Mobil lost 1.71, or 1.82%, to 92.24, United Technologies fell 1.45, or 1.77%, to 80.62, and Honeywell dropped 1.01, or 1.66%, to 59.75.
In Tokyo, markets rose due to speculation the US sub-prime crisis may be passing and the Nikkei 225 was up 153.11, or 0.9%, to 17,199.89.
Nomura Holdings, the largest brokerage in Japan, climbed 80 yen, or 4%, to 2,090. Nikko Cordial added 200 yen, or 14%, to 1,662 after news Citigroup wished to buy the group’s remaining shares.
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An added tier of asset management can of course deliver additional benefits for certain investors, writes Graham Bentley - just be sure you can justify it to the regulator and, especially, the client
The government is "in daily contact" with industry figures over the pensions dashboard as it prepares for the roll-out and its feasibility report, Guy Opperman has said.
Organisation led by Johnny Timpson
From 1 April 2019
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