(MENAFN- ProactiveInvestors)London shares closed flat on Friday at 6710 just 2.57 points up as the seriousness of the Greek crisis took hold again. News today was that after a gentle walk or possibly jog on the Greek banks it has now has now developed into a sprint with €2bn being withdrawn in the last two days alone. It comes as the two sides look no closer to a deal and an emergency summit has been called for Monday with 19 Eurozone leaders participating. This is being hailed as a last-ditch attempt to secure funds for Greece as it nears a €1.6bn debt repayment to the IMF at the end of this month. Today it was being reported that the ECB had raised the emergency liquidity limit by €3.3 billion to ensure the Greek banks stay in business. Michael Hewson at CMC Markets noted: "Fears about Greek banks running out of money over the weekend were temporarily put to one side in the afternoon after the ECB announced another rise in its ELA lending ceiling of €1.8bn for the second time this week taking it above €85bn in order to get Greek banks over the weekend period as worried Greeks pulled money out of their accounts." A big Footsie gainer was Telecoms group Colt Group (LON:COLT) which added over 20% to 188p as Fidelity made a 190p per share offer for the remaining stake it does not already own. The independent directors of Colt said the offer undervalued the company but stopped short of advising shareholders to reject the offer. Another gainer was Hikma (LON:HIK) which added 2.74% to 1947p as it got an upgrade from US broker Citi to 'buy' from 'neutral'. Elsewhere various directors and members of Card Factory's (LON:CARD) senior management team are selling in aggregate 7.4mln shares in the car seller representing around 2.2% of the Card Factory shares in issue. Shares fell 7.65% to 332p. Biome (LON:BME) might as well have a 'buy me' sign on its shares today as they headed 9.22% higher to 154p on the back of a contract win for its Stanelco RF division. On the downside Russia-focused exploration and production company Urals Energy (LON:UEN) saw losses balloon to US$13.7mln in 2014 from US$273000 in 2013. The shares lost over 27% to 3.375p. Drug developer Summit Therapeutics (LON:SUMM) saw its shares lifted 3.55% to 146p as it told investors about encouraging new preclinical data from its Duchenne muscular dystrophy (DMD) programme. The data concerns the firm's lead utrophin modulator SMT C1100 and its second generation compound SMT022357.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.