Abandoning a rumoured bid for Abbey has send HBOS shares soaring and helped the FTSE 100 index gain about 13 points to 4,558 this morning, despite rising oil prices hurting US shares overnight.
HBOS jumped 31.5p to 745.5p on the news, which leaves the way open for Spain’s Banco Santander to push through its takeover of Abbey. Intercontinental is up 7p to 628.5p after the hotels operators created by the demerger of Mitchells & Butlers from Six Continents, previously Bass, fired its chief executive as it seeks to turn itself into a franchise management company. BG group, the gas exploration company, is up 3.75p to 358.25p after the news exploration drilling of a new field in which the company has a share has moved into a second stage. Abbey is down 32.25p to 577.75p on news...
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