US subprime concerns hit FTSE; Imperial Tobacco up

(Reuters) - Britain's top share index fell for the third straight day, down 0.8 percent by midday on Wednesday, on concerns over the troubled U.S. subprime mortgage market and its impact on the broader economy.

At 1030 GMT, the FTSE 100 was down 53.4 points at 6,605.7, along with other European markets, but mergers and acquisitions offered some respite, boosting shares in Imperial Tobacco and Sainsbury.


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GLOBAL MARKETS-Stocks, bond yields rise; yen weak after BOJ

(Reuters) - LONDON, June 15 - Global stocks rose on Friday,
absorbing further gains in U.S. and euro zone government bond
yields ahead of U.S. inflation data, while the yen sank after
the Bank of Japan left interest rates on hold.




Energy stocks outperformed after oil spiked above $71 a
barrel overnight and merger and acquisition speculation buoyed
British retailers after a Qatari investment fund increased its
stake in J. Sainsbury , sending its shares up 5 percent.


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Banks, retailers boost European shares

(Reuters) - European shares rose in early trade on Friday, pushed up by financial and resource shares as the oil price soared back above $71 a barrel, while investors waited for key U.S. inflation data due later in the day.

The DJ Stoxx European retail index gained 1 percent led by J. Sainsbury which added 4.5 percent, after a Qatari group increased its stake in the supermarket to a quarter.


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European Stocks Rise for Third Day; Sainsbury, Tesco Pace the Advance

(Bloomberg) -- European stocks advanced for a third
day after Delta (Two) Ltd. bought shares in J Sainsbury Plc,
lifting retail companies including Tesco Plc.

Axa SA, Europe's second-largest insurer, and bank UniCredit
SpA gained.


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