Spend your way onto the property ladder! I received a mailshot offering free entries into the National Lottery – is it a scam? Fed up with being hit by energy how to beat forex market makers shocks?
59bn Brits have tied up in Europe safe? The latest twist in the stock market clash between software and claims processing group Quindell and a shady short-selling research firm has seen lawyers drafted into the conflict. 1billion off Quindell’s value earlier this week. Tuesday would have been a dark night for the company’s management, which saw shares lose more than half their value during trading in spite of assurances the allegations did not hold water. In response to Gotham’s 74-page tirade, Quindell yesterday issued its own 22-sheet rebuttal.
Though the company may think that Gotham City is as shadowy as the fictional metropolis that is home to caped crusader Batman, the share price fall has forced it into taking the allegations seriously. Big banks hike Help to Buy mortgage rates after just six months – so are state-backed home loans still good deals? The board of Quindell rejects the assertions raised in the publication earlier this week,’ it said. Legal action has already been initiated by the Company against those responsible for this coordinated shorting attack and reports are also being made on their activity to the appropriate regulators. Quindell’s senior independent director and vice chairman Tony Bowers said executives would be snapping up stock to reiterate their support for the company, in a statement clearly designed to draw a line under the debacle. I hope with this extensive response to the Gotham ‘research’ that investors will be reassured as to the Company’s transparent approach to investor relations,’ he said. Quindell’s shares, which at the start of the week were changing hands for 40p, fell to as low as 20.
They regained ground to touch 27. 5p to the good at 24. Despite the furore, the group is still planning to move from the junior AIM market to the main market in a move that would see it included in the FTSE 250 index. Ukrainian jitters continued to play havoc with market sentiment, as the Russian army began drilling near the border, raising fears its troops would invade. Mid-afternoon reports that a Ukrainian helicopter had been shot down saw the Footsie slip further into the red before a late rally saw the blue chip index finish 17. The fact that Kiev said the former Soviet Republic wanted to start World War Three was never going to help matters.
Financial Times publisher Pearson was the biggest FTSE 100 climber, rising 40p to 1,090p after its update beat City expectations. Chief executive Pascal Soirot refused to engage with questions at the group’s results on Thursday about bid speculation, and quick-buck punters hoping for a buyout pop began trickling out of the stock. The company was also one of several this week to receive a bloody nose from investors as the Shareholder Spring reared its head again. This result is not helpful for the west African exploration story, or for the sector more widely,’ said Mark Henderson, analyst at Westhouse Securities. 5p, making it the third largest faller in the FTSE.