News

The News Channel brings you comprehensive breaking financial news, updated throughout the trading day. See the most relevant stories, regulatory news, economic reports, expert commentary and much more.

  • Origin reiterates BG rejection

    Friday 04 Jul 2008

    Energy producer Origin has asked its shareholders to reject the $13.1bn bid from British gas group BG Group.

Market Buzz

Market overview: Footsie slump rounds of tough week
Friday 04 Jul 2008

1630: Footsie finished the week on a low, with insurance companies dragging the index down.

Friends Provident led the insurance sector lower on reports that pensions group Swiss Life is no longer interested in buying Lombard, FP’s high end insurance unit. Legal and General, Old Mutual and Standard Life also fell back.

Fashion retailer Next shrugged off the woes its peer Marks and Spencer after broker Sanford Bernstein said it preferred the stock at present to M&S. Elsewhere in the retailing sector supermarkets were wanted, after Waitrose said sales in the week to 28 June were up 3%. Tesco, Morrison’s and Sainsbury are all firmer, the latter after the Qatar Investment Authority increased its stake to 26%.

Expert Views

Justin A. Urquhart Stewart

Trader or speculator?

I was trying to concentrate on giving a presentation on global markets last week whilst staring out over the stunning St Aubyn’s Bay in Jersey, and I found myself having to answer a similar question several times – on the lines of “are speculators ruining our markets?”

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