Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

BG and Diageo boosted by Chinese deals

A couple of the companies benefitting from the Chinese state visit have seen a good reaction in their share prices.

Britain and China unveiled trade deals worth around £1.4bn to coincide with the arrival of Chinese Premier Wen Jiabao for a series of talks - as prime minister David Cameron maintained human rights issues were not being ignored.

A key agreement is a deal between energy group BG and the Bank of China to allow the energy group to expand its global operations, including in China. The arrangement allows for up to $1.5bn of new funding. BG is up 28.5p to 1303.5p on the news.

Elsewhere Diageo, up 15p at £12.75, has received approval from regulators to take an additional 4% stake in its Chinese joint venture for £13m. The move will also trigger a mandatory offer for white spirits maker Sichuan Quanxing.

The Chinese have also made positive noises about remaining a long term investor in European sovereign debt, and helping those countries which are struggling with their borrowings.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.