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Name | Symbol | Market | Type |
---|---|---|---|
Lloyds Banking Group Plc | NYSE:LYG | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.06 | 2.33% | 2.64 | 2.62 | 2.5801 | 2.61 | 9,056,768 | 01:00:00 |
By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Shares of London Stock Exchange Group PLC posted big losses in the FTSE 100 on Friday after the company said it plans a rights issue to fund the acquisition of asset manager Frank Russell Co.
LSE shares dropped 1.1%, in an otherwise quiet U.K. stock market. The company said it plans to raise 938 million pounds ($1.56 billion) to fund the takeover and that shareholders will be able to buy three new shares for every 11 they already own at a 1,295 pence each, a 30.1% discount to Thursday's closing price.
More broadly in London, the FTSE 100 index was slightly lower at 6,775.94, setting it on track for a 1.3% weekly advance.
Banks were among gainers, with shares of Barclays PLC up 1%, HSBC Holdings PLC (HSBC) rising 0.9% and Lloyds Banking Group PLC (LYG) 0.7% higher.
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