Shares in private equity giant 3i Group plunged 10% as HBOS prospered on a mixed Monday for the FTSE.
Reports of an impending portfolio sale for 3i are understood to be behind the fall, which has taken the firm's price below 300p for the first time in more than a decade, although the group has not commented on the rumours. British Gas owner Centrica is also suffering after the firm's £2.2bn rights issue failed to attract a 100% take-up. The company slipped more than 17p (6.84%) on Monday. However, London's blue-chip index, buoyed by a near 8% gain for HBOS, is marginally up 90 minutes before close at 4,286, a rise of more than five points or 0.13%. In the US, a near 6% loss for JPMorg...
To continue reading this article...
Join Professional Adviser for free
- 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