The FTSE 100 is down slightly in late morning trading despite receiving an initial boost on news Friends Provident has agreed a takeover by Clive Cowdery's Resolution.
London's blue chip index, was also buoyed early by a rise in profits from International Power, has dipped 12.52 points (0.27%) down to 4709.68 points. Lloyds leads banks lower today after rumours the Treasury disagreed with the bank's reported plans for a large rights issue to avoid its asset protection scheme. Its shares have fallen 8.98% to 89.10p. RBS is also in decline, shedding 4.94% to 43.07p; while insurer Aviva is down 3.59% to 367.6p. Friends Provident has climbed 2.27% to 76.7p, after accepting Resolution's £1.86bn offer. International Power holds the top spot after an...
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