In London, Friends Provident shares surged this morning as Resolution expressed interest in buying the company.
However, despite a strong showing from the insurer, the FTSE 100 was down early, 14 points (0.3%) 4,113 on opening. As well as top performing Friends, up 5.13% to 63p, fellow financial stocks Old Mutual, Man Group and Standard Life were top five risers, up 1.76% to 76p, 1.45% to £2.45 and 1.21% to £1.75, respectively. Lloyds Group fell 3.1% to 61p on the news it is poised to write off £13bn in bad debt to businesses and homeowners. Meanwhile mining stocks again started the week poorly. Xstrata (down 4.07% to £5.72) lead the index down, with Rio Tinto (down 2.89% to £18.46) and Fres...
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