France’s rating in the spotlight
Ratings agency Moody’s has warned it may put a negative outlook on France’s AAA credit rating in the next few months if the costs for helping to bailout banks and other eurozone members stretch its budget too much.
In the financial sector, press commentary indicates that at least three bidders will submit second round offers for Irish Life & Permanent’s Irish Life subsidiary. The final bidders are down to Canada Life’s parent, CVC, a joint offer from JC Flowers & Apollo Global and possibly an offer from Unum. Shares in the bank were unchanged at 3.3c. Bank of Ireland gained 0.2c to 9.6c. AIB added 0.2c to 6.2c. FBD announced yesterday that its resolution to approve the recently announced property joint venture with Farmer Business Developments was approved at its EGM, shares in the company were unchanged at €6.55.
