FTSE surrenders early gains.
Investors Chronicle - magazine and web content, November, 2007
Mining stocks and banks retreat from early highs Jonas Crosland
Leading shares relinquished early gains, as investor enthusiasm for mining and banking stocks started to dissipate, so that by lunchtime, the FTSE100 index was down 1.0 points at 6,261.1. Mid-cap stocks were still showing an overall gain but were below the best, and the FTSE250 was up 61 points at 10,592, having been 94 points higher at one stage. Trading volume was weak at GBP859m.
Northern Rock's shares rose 21.7 per cent to 104Alp, FT.com reports, after a Virgin-led consortium said GBP1.3bn in cash would be injected into the bank under its proposed rescue, half from the consortium's members and half raised through a 25p per share rights issue. The offer also includes plans for the...
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