FTSE 100 preview: Dubai deal to boost shares
The FTSE 100 is seen opening higher after Dubai said it has received $10bn from Abu Dhabi to repay its debt, calming jittery investors nerves and sending stocks in Asia higher.
Talking stock: Shares expected to start the week higher.
The blue chip index is seen opening as much as 0.5% higher, adding to gains from the previous session when it ended up 17.20 points, or 0.33 percent at 5,261.57.
Dubai said the loan from its neighbour Abu Dhabi would help towards repaying a $4.1bn Islamic bond maturing on Monday, while the excess would be used to cater to Dubai Worlds needs up until the end of April 2010.
Stocks in Asia rebounded as the news reassured investors that the debt problems in Dubai would not cause a ripple effect throughout markets.
No significant economic data was set for release from either the UK or the United States on Monday with all eyes this week focused on the latest two-day Federal Reserve meeting, which kicks off on Tuesday, with an interest rate decision due after the London close on Wednesday.
Cadbury releases a trading update, which is also expected to contain a defence document against Kraft's hostile takeover bid.
Cadbury and US rival Hershey have held talks over a possible friendly bid by the American firm to counter Kraft's offer, the Sunday Telegraph reported, citing market sources.
Barclays president Bob Diamond has announced the bank will be deferring up to 60% of its bonuses this year, the Sunday Telegraph reported.
British Airways' cabin crew is expected to plunge thousands of passengers into Christmas flight chaos by voting today to strike, the Daily Mail said on Monday.
Mouchel Group is expected to announce that it has rejected a takeover approach from VT Group, pitched at around 250p a share, the Financial Times said on Monday.
Royal Dutch Shell has appointed investment bank Lazard to sell its Swedish unit, while BP is looking to sell its French petrol stations, the Sunday Times reported. #
John Lewis recorded its best-ever trading last week, with underlying sales up 15% due to a strong pre-Christmas demand for toys, games and gifts.
Partygaming and Austria-based online gambling group Bwin Interactive Entertainment are in informal talks about a potential merger in a deal that could create an internet gambling giant, the Sunday Times reported.
Britain's financial watchdog could, within weeks, grant US entrepreneur Vernon Hill a licence to launch Metro Bank - thought to be the UK's first start-up bank in a century, the Financial Times reported on Monday.
National Express' largest shareholder, the Cosmen family, will participate in the transport group's £360m rights issue after earlier opposing it, the Mail on Sunday reported.
Rolls-Royce needs to redesign a key component of its engine for America's new Joint Strike Fighter (JSF) aircraft, fuelling a US campaign to remove the company from the project, the Independent on Sunday reported.
Covanta, a $2.6bn US quoted firm and the world's largest supplier of energy from waste, is the latest suitor to emerge in the contest to take over Shanks, the Independent on Sunday reported.
Whitbread releases a trading update.
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