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FTSE 100 movers: RSA buoyed by bid talk
Mon, 01 Dec, 2008
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FTSE 100 movers: RSA buoyed by bid talk
Fri, 5 Sep 2008, 11:25:00
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Related Market Prices
Name
Value
Percent
Change
RSA Insurance Group
142.00p
-7.19%
Johnson Matthey
806.50p
-6.82%
Sainsbury (J)
279.25p
-2.70%
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Bid talk has surrounded insurer
RSA
all week and refuses to die down with rumours that German giant Allianz mooted as a likely bidder.
RSA and Allianz both declined to comment both traders said the talk was of a bid at 225p per share for RSA.
J Sainsbury
was under pressure after Deutsche Bank downgraded its rating on the supermarket operator to 'sell' from 'hold' with a target price reduced to 310p from 335p.
"We believe that the business will be increasingly competitively hampered by a lack of ability to aggressively cut costs without impacting the customer proposition," the broker said. Deutsche also sees "limited P&L flexibility because of weakening underlying sales growth and the cost of accelerating new space growth."
Elsewhere, platinum and copper specialists were under the cosh as prices of both metals fell.
Johnson Matthey
fared the worse.
FTSE 100 - Risers
RSA Insurance Group (RSA) 165.50p +4.55%
Cadbury (CBRY) 640.00p +2.89%
BG Group (BG.) 1,073.00p +1.71%
Hammerson (HMSO) 925.00p +1.70%
Cairn Energy (CNE) 2,583.00p +1.29%
Unilever (ULVR) 1,601.00p +1.27%
BP (BP.) 511.75p +1.24%
John Wood Group (WG.) 412.25p +0.92%
FTSE 100 - Fallers
Johnson Matthey (JMAT) 1,464.00p -7.05%
Ferrexpo (FXPO) 185.10p -6.52%
Eurasian Natural Resources (ENRC) 826.50p -5.22%
Amec (AMEC) 761.50p -3.79%
Experian Group (EXPN) 392.75p -3.68%
Barclays (BARC) 318.25p -3.34%
Sainsbury (J) (SBRY) 336.00p -3.31%
Vodafone Group (VOD) 133.35p -3.30%
©2004-2006 QCK.com
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