Shares in Fiat Chrysler Automobiles skidded to a halt on Thursday after the US Environmental regulator warned the carmaker could be further penalised for using emissions-cheating software in more than 100,000 diesel vehicles.
Barclays: Nomura reduces target price from 305p to 285p staying with its buy recommendation. Investec lowers target price from 305p to 295p and keeps its buy recommendation.
Underlying earnings increase; AuM declines as Strategic Partners pull out; Net revenue falls; Dividend in line with prior year
Lloyds Banking Group has pushed the button on its 1.5bn pound-plus float of TSB after rejecting an 11th-hour approach from a group of institutional investors. TSB's management, led by Chief Executive Paul Pester, has begun meeting potential investors to ask them to back the pending flotation of the 631-branch business. The meetings, which began on Monday, are the first step in a pre-roadshow process which will culminate in the new challenger bank floating on the London Stock Exchange in May. - Daily Telegraph
Markets finish higher, upside limited after Fed; UK GDP up 0.7 per cent in Q4; Fund managers, banks lift markets higher.
Easing concerns over the emerging markets helped the financial sector higher on Tuesday, with stocks buoyed by M&A activity surrounding F&C Asset Management.
Shares in F&C Asset Management extended yesterday's strong gains which came after the group confirmed reports it had received an indicative offer from Canadian bank BMO Financial Group of 120p a share in cash.
Markets rebound from six-week low, UK GDP rises 0.7 per cent in Q4, as expected, US data, FOMC meeting awaited
Markets rebound from six-week low; UK GDP rises 0.7 per cent in Q4, as expected; US data, FOMC meeting awaited.
Markets look ahead to FOMC meeting tomorrow; Turkey in focus as central bank meets; F&C recommends offer to shareholders.
BMO offer represents 'unique opportunity', says CEO; Deal expected to double BMO's AuM; F&C AuM falls in fourth quarter.
1630:Close The Footsie once again plunged today, dragged by BG Group which disappointed with its 2014 guidance, while investors continue to feel anxious over emerging markets. Other big fallers today included Vodafone, which was hit by the news that AT&T does not plan to make a bid. Over in the US stocks were also in retreat, hit by a fall in new home sales in December. The FTSE 100 declined 113.08 points to 6,550.66, its lowest level in nearly six weeks.
BG Group plummets on gloomy guidance; AT&T rules out Vodafone bid; RBS reveals more provisions for new claims; FTSE 100 at lowest since mid-December.
Shares in F&C Asset Management leapt this afternoon after the group confirmed reports it had received an indicative offer from Canadian bank BMO Financial Group of 120p a share in cash. F&C revealed it is 'likely to recommend a firm offer' at the price, which followed 'advanced discussions'.
F&C Asset Management on Monday confirmed reports it had received an indicative offer from Canadian bank BMO Financial Group of 120p a share in cash.
F&C Asset Management was to be found in the upper rungs of the leader-board today after Credit Suisse upped the majority of its price targets for Europe's Diversified Financials. The sector has the highest 'gearing' to a rise in 10-year US Treasury yields, the Swiss broker's analysts explained.
Aberdeen Asset Management: JP Morgan cuts target price from 544p to 529p, while its overweight rating remains unchanged. Canaccord Genuity reduces target price from 586p to 540p and reiterates a buy recommendation. UBS lowers target price from 540p to 520p and keeps a buy recommendation.
A round-up of the biggest director deals today so far.
Irish food company Greencore was a strong riser on the second tier, most likely due to the news that Starbucks is planning to expand its food range in the US. Greencore is one of Starbucks's main food suppliers, as well as being the biggest sandwich maker in the world, making this big news for the FTSE 250 group.
F&C Asset Management bucked the trend of its peers as it reported a fall in assets under management in the three months to the end of September.