The FTSE 100 is fighting to recover from a poor start inflicted by mining giant Xstrata's takeover collapse, with the index currently down 31.90 points (0.56%) to 5657.20.
Vale’s planned takeover of Xstrata fell through last night after Xstrata's board reportedly knocked back a £40 per share offer. The miner is down 7.86% to 3424 so far. The world's fifth-largest insurance group Aviva is also struggling, down 3.62% to 612.50 and corn refiner Tate & Lyle is 2.92% lower to 566. Sainsbury’s is leading the gains after announcing a £1.2bn property joint venture with British Land. The supermarket chain is 3.57% ahead to 348.50. Vodafone is higher following an upgrade from UBS, 3.42% higher to 157.10 and Kingfisher is 3.21% up, to 138.20. In New York, the ...
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
