The FTSE 100 has started the day up a fraction after Debenhams department store chain announced this...
The FTSE 100 has started the day up a fraction after Debenhams department store chain announced this morning it has been approached with a takeover offer.
Within the first hour of trading, the FTSE 100 climbed 21 points or 0.5% to 4089 while the FTSE All-Share index also gained 0.6% to 1998 points.
Although it will not disclose who the takeover bid is from, traders have reacted well to the Debenhams announcement, and earlier pushed its share price up 17.7p or 4.4% to 419.75p.
Other firms which have announced improvement to their trading figures this morning include Photo Me International and Whitbread.
Photo booth operators Photo Me has been struggling to pull out of a deficit, so it was good news when they revealed improved revenue in Europe cut net losses for the 2003 fiscal years to £4.34m.
Whitbread, which now takes at least a third of its revenue from guest lodgings, has also seen an analyst upgrade this morning so its share price has increased 14p or 2.1% to 690p.
In Asia today, close of business for the quarter revealed that trading has significantly improved across some of the region, but it was the Korean market which saw the gains.
Even though it today stayed relatively flat today, count-up of the figures for this quarter reveal the Topix rose 15% of the quarter, giving the index its best gains for four years.
But it was the Korean Kopsi index which rose a total of 25% over the three months to June 30th.
This is despite its fall today of 1.1%, as a strike by workers at Samsung Electronics has worried investors and businesses that economic growth will now slow.
Markets didn't fare as well in the US on Friday, as all indices fell between 0.5% and 1%.
The Dow Jones dropped almost 1% or 90 points to 8,989/05 while the S&P 500 lost 0.97% or 9.6 points 976.22 and the Nasdaq fell 0.54% or 8.75 points to 1,625.26.
Subject to unitholder approval
Partner Insight: Introducing the Architas education series for clients.
'Fewer than 1% of firms PROD-compliant' - Rory Percival
'Left holding the can'
'VCTs and EIS compared' panel