Vince Cable said he would not "rule out intervention" in Pfizer's 63bn pound bid for Astra Zeneca as he warned that the "future of the UK is a knowledge economy not a tax haven". The Business Secretary told the House of Commons that just as both AstraZeneca and Pfizer were "motivated by hard-headed commercial considerations" the government would be "motivated by hard-headed considerations of the national interest." - The Daily Telegraph
Carphone Warehouse and Dixons Retail have won extra time to thrash out a potential merger, but speculation has emerged that Carphone's rival Phones4u may make a counter-bid.
The chief executives of some of Britain's biggest life insurers have asked regulators to intervene after the Chancellor's announcement of dramatic changes to the pensions market, the Sunday Telegraph said. The insurance bosses have contacted the Financial Conduct Authority and the Prudential Regulation Authority, the paper said, without naming the companies. Britain's biggest listed life insurers are Legal & General, Standard Life, Prudential and Aviva. The companies are unhappy that they weren't consulted before George Osborne proposed giving pension savers freedom not to buy an annuity. But a "City source" told the paper: "Annuities are over. Companies need to figure out new retirement products and move on."
Following the announcement by Dixons and Carphone Warehouse Monday they were in talks that could lead to a merger, Investec reckons there is good strategic logic to the two groups joining forces, given the way the industry is moving, with increasing convergence in technologies and interconnectivity.
1630:Close UK stocks got the week off to a decent start, lifted by gains in the US after Fed Chair Janet Yellen smoothed over concerns about the impact of monetary stimulus tapering on emerging markets. Bunzl climbed on the back of positive full-year results, while Vodafone shares were higher following the completion of the Verizon Wireless deal. RSA, Associated British Foods and HSBC were the biggest three fallers of the session. Macro wise, January Eurozone CPI was revised slightly higher, to reveal a gain of 0.8 per cent year-on-year (consensus: 0.7 per cent), while the German Ifo business climate index surprised to the upside, having gained to 111.3 in February. The FTSE 100 closed up 27.80 points at 6,865.86.
Shares of Centamin rose strongly on reports the Egyptian government's redrafted investment laws will prevent challenges from third parties on deals formed between the government and investors. According to Reuters, the news came from a cabinet source.
Shares of Vodafone gained once allowance was made for the share consolidation resulting from the disposal of its 45 per cent stake in US mobile phone company Verizon Wireless.
An upbeat outlook from phone and broadband giant BT boosted the fixed line telecoms sector on Friday after the company's third-quarter statement impressed.
Broker Barclays has raised its target price on Carphone Warehouse after the telecoms retailer did a deal with South Korean electronics giant Samsung to run more than 60 Samsung stand-alone stores across Europe.
Amedeo Resources: Daniel Stewart initiates with a target price of 2p and a buy recommendation.
Stocks swing sharply into red in afternoon trade; Renewed EM currency volatility follows rate hikes; Wall Street lower ahead of Fed decision; Miners rise after strong updates, Sainsbury boss exits.
Healthcare company BTG was a heavy faller despite saying trading for the four months to January 28th had been in line with expectations. The group was hit by comments from finnCap and N+1 Singer, which both reitered their 'sell' rating on the stock.
Turkey hikes rates, lira strengthens but gains pared; Antofagasta, Anglo American, Randgold impress with updates; Sainsbury falls after King departure; Barclays considering branch closures, job cuts.
Turkey hikes interest rates to halt lira slide; Antofagasta, Anglo American, Randgold rise after updates; Markets await FOMC decision.
Carphone Warehouse has been signed as the 'preferred partner' of Samsung Electronics to operate more than 60 Samsung stand-alone stores across Europe.
Afren: Investec ups target price from 170p to 200p and maintains a buy recommendation.
Total third quarter revenues rise; 4G mobile launch to boost results; FY earnings guidance reiterated
African Barrick Gold: JP Morgan lowers target price from 180p to 170p leaving its neutral rating unaltered.
Alternative Networks: FinnCap takes target price from 390p to 430p and retains a buy recommendation. Investec ups target price from 390p to 440p maintaining a buy recommendation.
Amlin: Berenberg raises target price from 398p to 434p, but still recommends selling. Barclays cuts target price from 481p to 453p and retains an overweight rating.