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Article: Footsie's festive rally's a cracker; MARKET REPORT.(Business)
- Article from:
- Daily Mail (London)
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: by Geoff Foster
AS raging bulls roared that the traditional pre-Christmas rally could have started, rumours were rife that a mega-Footsie bid would put the icing on the cake this yuletide.
Legal & General came under renewed attack from hungry speculators as revived talk of a Resolution-led break-up bid worth [pounds sterling]7bn or 120p a share for the pensions and insurance giant did the rounds.
The shares raced ahead to 86.6p before closing 41/2p higher at 853/4p on hefty aboveaverage turnover of 32m shares.
Rumours were rife a month or so ago that L&G'S financial advisers Nomura and UBS were preparing its defences against an ...