FTSE 100 movers: British Energy slips on RWE pull out report
Germany utility RWE has reportedly dropped plans to bid for nuclear power generator British Energy.
German business newspaper Handelsblatt reported that the decision came amid signs that Swedish utility Vattenfall, RWE's preferred partner for the deal, will drop out.
Swedish media reported yesterday that the government, which includes the anti-nuclear Centre Party, has called a halt to Vattenfall's plans as it does not want to increase the state-owned group's nuclear assets.
RWE may still be interested in buying parts of British Energy, Handelsblatt said, citing unnamed sources.
On the upside, reports that US private equity group Texas Pacific is mulling an £8bn move for Royal Bank of Scotland's insurance business sent all of the insurers rising higher.
Most of the interest is centred on RBS's Churchill and Direct Line insurance brands, although TPG is said to be prepared to take on the whole business, the Telegraph said. Admiral, Royal Sun Alliance picked up in sympathy.
FTSE 100 - Risers
Next (NXT) 1,242.00p +8.28%
Wolseley (WOS) 538.50p +7.70%
Marks & Spencer Group (MKS) 404.50p +6.17%
Royal & Sun Alliance Insurance Group (RSA) 142.70p +6.02%
Old Mutual (OML) 135.20p +5.87%
(Article continues below)Advertisement
Kingfisher (KGF) 138.50p +5.73%
Admiral Group (ADM) 908.00p +5.64%
Aviva (AV.) 666.00p +5.46%
FTSE 100 - Fallers
British Energy Group (BGY) 743.00p -1.98%
Thomson Reuters (TRIL) 1,592.00p -1.42%
Tate & Lyle (TATE) 523.50p -0.76%
G4S (GFS) 230.50p -0.75%
United Utilities (UU.) 721.50p -0.62%
International Power (IPR) 439.00p -0.57%
BG Group (BG.) 1,253.00p -0.56%
