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London close: Last-minute Greek proposal fails to lift stocks, FTSE plunges 1.5%
A last-minute request from Greek prime minister Alexis Tsipras for a new bailout programme failed to inspire gains on London's stock market as the heavyweight mining sector bore the brunt of a reduction in risk appetite.
Wednesday preview: Manufacturing PMIs, ADP report in focus
As the Greek debt crisis continues to dominate headlines, a barrage of global economic data will likely keep investors busy on Wednesday, including some closely-watched manufacturing indicators.
London midday: Stocks pare losses as investors hope for last-minute Greek deal
UK stocks were trading in the red again on Tuesday, but had bounced off their lows by lunchtime as investors digested the latest news flow from Greece.
HSBC highlights upside at Tesco, stays at 'buy'
HSBC has reiterated its ‘buy’ recommendation on Tesco, saying that the supermarket group is likely to be the preferred choice of suppliers across the grocery industry.
Goldman downgrades HSBC to 'neutral', slashes target price
Goldman Sachs has removed banking giant HSBC from its ‘conviction buy’ list and cut its recommendation on the stock to ‘neutral’, slashing its target price from 760p to 690p.
London open: FTSE drops to January lows on Grexit fears
UK stocks were trading at levels not seen since the start of the year on Tuesday morning as fears about a Greek exit from the Eurozone intensified.
Colt unveils plans to exit IT services
Telecoms outfit Colt Group has outlined plans to “focus on core strengths” of network, voice and data centre services with a managed exit from IT services.
London pre-open: Stocks to extend drop as Greek crisis deepens
UK stocks are set to drop further on Tuesday morning after finishing at a five-month low the previous session with Greece set to default on a debt repayment to the IMF.
Tuesday newspaper round-up: Greece, Rio Tinto, UK consumer confidence
European Council president Donald Tusk sent a letter to Greek prime minister Alexis Tsipras late on Monday, denying the latter’s request for reconsidering a bailout extension, reports the Financial Times. Tusk said: “After consultations with leaders, in the absence of new elements, I see no willingness to go against the position expressed by finance ministers at their 27 June meeting. ”.