A round up of the top news and views on FT Alphaville and FT.com as at noon, London time.
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On FT Alphaville this morning,
- In today’s hyperactive metals and mining sector, “accepting the first takeover bid that comes your way would be madness.”
- There is certainly no dearth of deal appetite. Having spent much of the last downturn repairing their balance sheets, companies are in better shape than they have been for a long time and, with an abundance of cheap credit available, they remain keen to participate in global consolidation.
- Foreign fund flows have buoyed Asian markets in recent years. Is it time for Asia to return the favour?
- The biggest hedge funds tightened their grip on the industry last year, with the top 100 passing the $1,000bn mark for the first time and holding more than two-thirds of all hedge fund assets, according to a new survey.
On FT.com this morning,
- In another attempt to deflate an expanding stock market bubble the Chinese government issued a warning through state-controlled media on Thursday, urging investors and securities brokerages to raise the level of ”investor education” and consider the risks involved in stock speculation.
- Barclays, the UK retail and investment bank that is stalking its Dutch rival ABN Amro, on Thursday said pre-tax profit for the first quarter of this year was 15 per cent higher than in the first quarter of 2006. About a third of the increase came from the bank’s sale and leaseback of property, with the investment banking operations, Barclays Capital, also making a large contribution to earnings growth, reporting its best quarter ever.
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