Booming financial stocks amid takeover speculation and hopes the worst of the credit crunch may be over helped the FTSE 100 Index power ahead today.
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THIS week, the US Federal Reserve agreed to provide emergency funds for Fannie Mae and Freddie Mac, which together hold or back around half of US mortgage debt.
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Beleaguered Marks & Spencer was under fresh stock market pressure today amid City fears that the current consumer squeeze could wipe a third or more off profits.
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Marks & Spencer’s annual meeting will be the highlight of the corporate week, but the bad news from the housing sector is set to continue with updates from Barratt Developments and Persimmon.
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