The FTSE 100 Index fell 36 points, or 0.6%, to 5,936 points today as index heavyweights tumbled and Wall Street traded little changed ahead of tonight's rate decision.
Standard Chartered slumped 2.76% to 1,482p after the Singapore Government last night snapped up a £2.3bn, or 12% stake, in the group. Temasek, Singapore’s state-owned investment company, refused to rule out a bid for the bank, but claimed yesterday it was a “very supportive and stable investor”. Legal and General fell 2.27% to 140p as Morgan Stanley kept 'equal-weight' on it with a price target of 151p from 131p, saying the positive margin development during the second half was a surprise. But Alliance & Leicester gained 0.94% to 1,179p amid renewed bid rumours about a possible tak...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
