BUSINESS STOCKMARKET: Sliding US$ affects the UK

The UK stockmarket hit turbulence in the wake of the sharp slide in the US$ towards $2:£1 on worries about the poor future of the US economy.

Bids – whether real or rumoured – continue to prop up the UK stockmarket, fuelled by an increase in private equity deals as venture capitalists and entrepreneurs search for hidden value. There is speculation that Robert Tchenguiz could launch another bid for M&B, while Punch Taverns is rumoured to be about to launch a bid for Wolverhampton & Dudley Breweries.

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© db January 2007