LONDON (Thomson Financial) - Leading shares were expected to open lower this
morning in a quiet start to the week, with traders looking to pocket a little
profit following last week's gains which saw the index hit a new 7-year high and
in the absence of any major newsflow.
According to IG Index, the FTSE 100 is expected to open around 11 points
lower at 6,705 having closed up 21.4 points at the end of last week as M&A fever
raged unabated.
MARKETS
Hang Seng midday 23,089.95, down 9.34
TODAY'S PRESS
* Royal Bank of Scotland consortium preparing to unveil new ABN Amro bid
this morning - Telegraph
* Decision on whether taxpayers or private sector foots bills for 2 bln stg
overspend on London Underground improvements expected today - FT
* Ford considering sale of Volvo division, not in talks but assessing
options - FT
* The Weston family, owners of Selfridges, believed to be among a group of
investors lined up to back the failed Leighton bid for BHS - Telegraph
* Sir Philip Green looking for high profile chief executive for BHS - FT
* News Corp is to meet Dow Jones directors this week to focus on price and
other issues - FT
* Kingfisher plans to open 50 stores in Russia over next 10 years - FT
* Government expected to signal move to allow councils to impose an
infrastructure tax on firms - Times
* HBOS considering 1.2 bln stg bid for Quintain Estates - Times
* Activist investor Efficient Capital Structures claims US investor group
Glass Lewis backs its Vodafone restructuring proposals - Independent
* Dutch-owned postal group TNT wants right to make doorstep deliveries in UK
- Guardian
* Emap set to announce sale of Iris radio arm, at top end of 150-200 mln eur
range - Guardian
* Fund manager Gartmore could be lining up 1.5 bln float - Daily Mail
PRESS COMMENT
FT
THE LEX COLUMN China's investment in private equity group Blackstone (could
have a sting in the tail); ConocoPhillips (buying back 10 pct of shares leaves
it with less acquisition power); Cruising (popularity of cruise lines improving)
Express
THE AIM MARKET: Luxury hotel group Park Plaza to join market tomorrow after
raising 85 mln in placing
FORTHCOMING EVENTS
MONDAY JULY 16
INTERIMS
Amino Technologies
Low & Bonar
FINALS
Accident Exchange Group
Immunodiagnostic Systems Holdings
AGMs
None scheduled
EGMs
None scheduled
MANAGEMENT STATEMENT
Land Securities (Q1)
TRADING STATEMENTS
BP
Burren Energy
Peter Hambro
Wolseley
ECONOMICS
UK May govt house price data (0830 GMT)
tf.TFN-Europe_newsdesk@thomson.com
mnd/slj
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by
framing or similar means, is expressly prohibited without the prior written
consent of AFX News.
|