FTSE 100 preview: Shares knocked back after gains
The FTSE 100 is seen heading lower today as investors pause for breath after sharp gains in the previous session.
Mid-week lull: Shares are epxected to fall back today.
The blue-chip index is seen dipping as much as 0.2% after it surged 2.3% on Tuesday, its biggest one-day gain in over four months as worries over Dubai's debt problems receded.
Miners are likely to garner more support after strong gains Tuesday with base metals firmer and gold hitting a record high above $1,200 per ounce, boosted by a weaker dollar.
Ex-dividend factors are set to take 2.39 points off the index with companies including London Stock Exchange, National Grid, SABMiller and Severn Trent losing their payout attractions.
The British Treasury looks set to clash with some institutional investors in Royal Bank of Scotland after it took control of the bank's bonus pool, The Times reported.
Barlcyas completed the sale of its asset management arm to US fund manager BlackRock on Tuesday for $15.2bn, or $1.7bn more than when it struck the deal in June after a jump in BlackRock's share price.
Logica has announced that it is to close the company's final salary pension scheme to new accrual from the second quarter of next year, The Times reported.
Italian firm Eni's $1.5bn bid for the Ugandan oil fields owned by Heritage Oil could be derailed by a rival offer from Tullow Oil, The Daily Telegraph reported. A Tullow Oil said it was 'considering exercising pre-emption rights', the paper reported.
BP has begun cleaning up an oil spill from a leaky Alaskan pipeline, but said it has not determined what cause of the leak or how much material spilled onto the snow covered tundra.
Cadbury chief executive Todd Stitzer is intending to use the company's cultural cachet and ethical history to rally shareholders against the takeover bid by Kraft, the Guardian reported.
Kazakhmys has cut costs by 20% since January and might end the year below its forecast cost range, chief financial officer Matthew Hird said on Tuesday.
Personal Accounts, the pension system covering British workers without retirement savings, could gather up to £10bn a year for a grateful asset management industry, a UK government minister said.
Media group Informa has walked away from a purchase of Germany's Springer Science + Business Media.
There will be updates today from Sage Group, Brewin Dolphin and Optos.
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