Reply #49: London closes in negative territory

[Ghost Dog]

http://mwprices.ft.com/custom/ft2-com/html-story.asp?pulse=true&siteid=ft&dist=ft&guid=%7B8794c60e%2Dba8f%2D46c2%2D925e%2D9f16121f5b3e%7D

London equities made further broad-based losses on Monday afternoon, as investors poured in to Imperial Chemical Industries following the company’s rejection of Akzo Nobel’s bid. ICI was trading 15.6 per cent higher at 635p, well above Akzo’s 600p-per-share bid price.

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On the downside, Pearson, the owner of the Financial Times, fell 1.3 per cent to 862.5p after weekend presses reported it was mulling a joint GE-Pearson counterbid for US financial information company Dow Jones. Any offer would presumably be at a premium to News Corp’s $60-per-share bid. The FTSE 100 closed 29 points lower at 6,703.5, a loss of 0.4 per cent. The FTSE 250 was 0.4 per cent lower at 11,947.5, but boosted by strength in mid-cap oil explorers after Tullow Oil announced a major discovery in Africa.

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