{"id":9560,"date":"2009-01-06T00:00:00","date_gmt":"2009-01-06T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"tate-lyle-hurt-by-rumours-of-hedge-fund-share-sale","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2009\/tate-lyle-hurt-by-rumours-of-hedge-fund-share-sale.html","title":{"rendered":"Tate &#038; Lyle hurt by rumours of hedge fund share sale"},"content":{"rendered":"<p>Financial Times &#8211; The London market&#8217;s new year bounce continued into a fifth session, but Tate &amp; Lyle<strong> <\/strong> missed the trend.<\/p>\n<p>Tate lost 8.5 per cent to 386&frac14;p amid speculation that Harbinger, its second-biggest shareholder, might have to sell to meet redemptions.<\/p>\n<p>The US hedge fund run by Philip Falcone cut its holding from 19 per cent to 13.9 per cent through December.<\/p>\n<p>Tate shares were also hit by concerns that the sweetener industry had failed to push through price rises. Supply contracts for 2009 have been fixed at 1-2 cents above last year&#8217;s levels, but below the 3&frac12;-cent increase requested, according to a trade press report.<\/p>\n<p>Tate shares rallied 5.5 per cent last week, helped by talk of a Russian investor looking to buy a 10 per cent stake but had struggled to find a broker willing to take the trade.<\/p>\n<p>The FTSE 100 closed up 0.4 per cent, rising 17.85 points to a two-month high of 4579.64. Activity remained at holiday levels, however, with just over 840m blue-chip shares changing hands.<\/p>\n<p><a href=\"http:\/\/www.ft.com\/cms\/s\/0\/0c39877c-db92-11dd-be53-000077b07658.html\" target=\"_self\">Read Complete Article<\/a>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial Times &#8211; The London market&#8217;s new year bounce continued into a fifth session, but Tate &amp; Lyle missed the trend. Tate lost 8.5 per cent to 386&frac14;p amid speculation that Harbinger, its second-biggest shareholder, might have to sell to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2410,5201,5207,4039,4658,5204,4416,5205,108,4650,4371,4715,4325,1099,4742,1422,5203,5202,5206],"class_list":["post-9560","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-amp","tag-blue-chip-shares","tag-bounce","tag-changing-hands","tag-falcone","tag-fifth-session","tag-financial-times","tag-ftse-100","tag-harbinger","tag-investor","tag-london-market","tag-new-year","tag-redemptions","tag-shareholder","tag-speculation","tag-stake","tag-supply-contracts","tag-sweetener-industry","tag-tate"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9560"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9560\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}