FIVE at FIVE: Royal Mail no longer, Credit Suisse solvency concerns, Watkin Jones profit warning and Legal & General meets collateral calls

Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news

Proactive Published 04/10/2022

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1. Royal Mail becomes International Distributions Services

The FTSE 250-listed postal group, which is facing ongoing problems with employee relations and a decline from the heights of demand it enjoyed during pandemic lockdowns, announced the change in July.

2. Credit Suisse needs cash on funding and solvency worries

Solvency, crisis, restructuring and crunch time - another normal day at the Swiss banking group

3. Watkin Jones loses a third of its value in one day

Shares in Watkin Jones plunged 33% today after it warned that full-year 2022 operating profits would be around 10% below current market expectations

4. Legal & General reassures investors despite recent wild swings

Legal & General Group PLC (LSE:LGEN) moved to reassure investors that the recent wild swings in financial markets have not impacted its business

5. FTSE 100 closes 2.57% up

Britain's blue chip index closed out around 177 points higher, or 2.57%, at 7,086 on the day. Meanwhile, midcap FTSE 250 also rose, gaining around 537 points, or 3.11%, at 17,822.