Earlier in the week, shares in London slumped to a near three-year low after concerns over the health of the global economy led to a sell-off across international markets. However, the announcement of better than expected results from US bank JP Morgan and the sharp fall in oil prices provided the catalyst for a rebound, with banks being the main benefactors, recovering some of the lost ground from the earlier sell-off.

Eight years to the day after deposit holders in Bradford & Bingley voted to become a listed bank, shareholders approved a twice-restructured plan to raise £400m in order to strengthen the bank's balance sheet. At the EGM in Sheffield, the group's four largest shareholders, Standard Life, M&G, Legal & General and HBOS's Insight backed a proposed cash injection in spite of the bank's share price trading below the rights issue price of 55p.

In response to press speculation, Imperial Energy Corporation, the Leeds-based oil and gas exploration and production company confirmed that it had received an approach over a potential 1290p cash takeover from an unnamed party. On news of the announcement the company's share price jumped 25 per cent, before falling back later in the day to 18 per cent on the previous day's close.  

One of the last remaining UK listed football clubs, Sheffield United, confirmed that it had sold the health and fitness club Thames Club to a Venture Capital Trust for £3.8m, generating a "healthy" gross profit of £0.7m.

Seaham Investment Ltd, an indirect subsidiary of Crown Crest Group Ltd announced to the market that its recent 5p per share cash offer to acquire Instore had won sufficient acceptances for the deal to be declared unconditional. The deal values the Huddersfield-based retailer who also operates the Poundstretcher retail chain, at £11.4m.

UK Coal, the Doncaster-based mining company, reported in its latest trading statement that revenue for the first half of the year was in line with expectations. As a result of the continued rises in energy prices, the company was able to pass on a 17.8 per cent rise in the realised coal sales price over the period, however this has been offset slightly by a lower level of production. The company's outlook for the second half of the year remained positive.

n The value of investments can fall and you could receive less than you invested. You should take professional advice if you have any doubt about the suitability of these companies for your portfolio.