China Shows Interest in UK Prudential

Following the reports highlighting Chinese attempt to bid for UK Prudential, the stock market received a rebound, with traders looking for Prudential today.

The reports have claimed that over five million shares in the insurer witnessed trading, assisting them to mark a 22% rise touching 621.5p.

It is cited that a spate of Asian business players including Guo Guangchang, the Chairman of Shanghai-based conglomerate Fosun Group, along with Goldman Sachs' former Chinese Chief Fred Hu could raise the bid for acquiring the Asian wing of the UK's grandest firm.

A crew of Chinese billionaires, which were initially witnessed supporting the AIA bid, are now expected to shower their interest in Pru's Asian operations or may be its global business, claimed the Sunday Times.

The crew hails the names of Guo Guangchang, Chairman of Fosun Group, Fred Hu, former China Chairman of Goldman Sachs and Shan Weijian, Chairman and Chief Executive of Pacific Alliance Group.

As a whole, the complete market scenario hailed a sense of brightness, marking a good start for the week.

The FTSE 100 index marked a rise to a five-month high, nudging up by 57 points touching 5558.65, as trading was witnessed to grab some pace after a gloomy scenario.