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.
If you would like to comment on this story, contact:
Tel: 020 7034 2682
e-mail: [email protected]
Hires Wellington Management
Introduces 'The Long Dog'
Continuing Square Mile’s series of informal interviews
Happy GDPR day