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Article: Market Watch: GBP 1 billion builder's bid battle keeps pressure on
- Article from:
- Evening News - Scotland
- Article date:
- July 17, 2006
- Author:
CopyrightCopyright 2006 Evening News - Scotland. Provided by ProQuest LLC. (Hide copyright information)
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SHARES in London remained under pressure today despite the
emergence of a potential GBP 1 billion bid battle in the
housebuilding sector.
The developments involving McCarthy & Stone lifted a string of
housebuilders, with shares in the acquisition target itself rising
10.6 per cent.
However, the mood of the market continued to be subdued by soaring
oil prices and the escalating violence in the Middle East.
Israeli air strikes killed 17 people in Lebanon and Hezbollah
announced more rocket attacks after world powers put the onus on the
Lebanese guerrilla group to end the fighting.
Last week's three per cent fall in the benchmark FTSE-100 was
compounded this morning by a further slide. Just ...