AGL 40.39 Increased By ▲ 0.39 (0.98%)
AIRLINK 127.89 Increased By ▲ 0.85 (0.67%)
BOP 6.64 Decreased By ▼ -0.03 (-0.45%)
CNERGY 4.52 Increased By ▲ 0.01 (0.22%)
DCL 8.44 Decreased By ▼ -0.11 (-1.29%)
DFML 41.59 Increased By ▲ 0.15 (0.36%)
DGKC 86.88 Increased By ▲ 0.03 (0.03%)
FCCL 32.06 Decreased By ▼ -0.22 (-0.68%)
FFBL 64.94 Increased By ▲ 0.14 (0.22%)
FFL 10.13 Decreased By ▼ -0.12 (-1.17%)
HUBC 110.28 Increased By ▲ 0.71 (0.65%)
HUMNL 14.78 Increased By ▲ 0.10 (0.68%)
KEL 5.15 Increased By ▲ 0.10 (1.98%)
KOSM 7.21 Decreased By ▼ -0.25 (-3.35%)
MLCF 41.50 Increased By ▲ 0.12 (0.29%)
NBP 59.56 Decreased By ▼ -0.85 (-1.41%)
OGDC 194.35 Increased By ▲ 4.25 (2.24%)
PAEL 28.59 Increased By ▲ 0.76 (2.73%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.75 Increased By ▲ 0.69 (0.46%)
PRL 26.60 Decreased By ▼ -0.28 (-1.04%)
PTC 16.05 Decreased By ▼ -0.02 (-0.12%)
SEARL 78.36 Decreased By ▼ -7.64 (-8.88%)
TELE 7.42 Decreased By ▼ -0.29 (-3.76%)
TOMCL 35.33 Decreased By ▼ -0.08 (-0.23%)
TPLP 8.00 Decreased By ▼ -0.12 (-1.48%)
TREET 16.23 Decreased By ▼ -0.18 (-1.1%)
TRG 52.70 Decreased By ▼ -0.59 (-1.11%)
UNITY 26.75 Increased By ▲ 0.59 (2.26%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,950 Increased By 66 (0.67%)
BR30 30,921 Increased By 321.3 (1.05%)
KSE100 93,849 Increased By 493.4 (0.53%)
KSE30 29,097 Increased By 165.9 (0.57%)

As consolidation in the crowded British banking industry hots up, with fresh talk of a bid for Barclays lifting the sector, investors will be eyeing likely candidates for a take-over this week.
But while banking industry takeover speculation is rife, surging oil prices and jitters ahead of a likely rise in US interest rates are likely to hold sway over the broader market.
Shares in Barclays surged as much as 11 percent to 535 pence on Friday - a six-month high - after dealers reported speculation that US financial services giant Citigroup will bid up to 700p a share for Britain's third biggest bank by assets. Barclays and Citigroup both declined to comment.
Other banks were lifted by the news, with likely takeover targets Lloyds TSB and Bradford & Bingley outperforming the sector, which makes up around a quarter of the blue chip index's weighting.
"Everybody's waiting for the first serious cross border acquisition in the sector," said Jeremy Batstone, head of research at stockbroker Charles Stanley. "It's the big boys that are the centre of attention now."
FTSE-100 share index was down 22.1 points at 4,391.3, but had bounced off lows as banks rallied. The benchmark index has dipped around 1.7 percent so far this quarter.
Record-high oil prices have knocked equities in recent weeks and quarterly results from airline British Airways due on Monday will be closely watched for signs that rocketing jet fuel prices have eaten into profits.
"The results are unlikely to bring good news, because oil prices will be weighing. I think it's just a question of will they be as bad as people expect," said John Smith, head of equities at investment bank Brown Shipley.
Market watchers said the wider implications of a record-high oil price will continue to cause concern over the economic recovery.
Investors will also wait to see if the Fed decides the time is right on Tuesday for a second rate rise after its quarter percentage point hike at the end of June, the first increase in four years.
But on a longer-term view some strategists were more optimistic over equities' progress.
"The fourth quarter of this year will hopefully be the time when the market puts the pedal to the metal," said Graham Secker, strategist at Morgan Stanley.
"On a 12-month view we're pretty optimistic but we're just remaining fairly cautious at the moment."
As the earnings season draws to a close, results from insurers Old Mutual on Tuesday and Royal & Sun Alliance on Thursday will keep the focus on the insurance sector.
Elsewhere on the corporate agenda ports and ferries operator Peninsular & Oriental and London-listed miner Xstrata are set to report interims on Thursday.

Copyright Reuters, 2004

Comments

Comments are closed.