In the know: HBOS ... Woolworths ... Barratt Developments ... Rift Oil

Gilts Gilts leapt as dismal economic data dimmed the prospect of a rate rise this year and the European Central Bank signalled it was in no rush to raise rates further. Britain’s services sector contracted in June at its sharpest pace since the aftermath of the September 11, 2001 attacks on the US. The September long gilt future rose 73 ticks to 105.16. Rumour of the day HBOS jumped 18¼p to 279¼p, back over its 275p rights issue price, as shorters were sent scurrying by a rumour that in an effort to restore its finances it could sell Bank West, of Australia, its biggest overseas business. HBOS, which bought most of BW five years ago, has maintained that it remains committed to its international network. Deal of the day Trevor Bish-Jones, the departing chief executive of Woolworths, down 0.15p to 7.3p, has sold more than half... [read full story]