The FTSE 100 index climbed 96.80 points today to 4,426.80 today after companies such as Vodafone and...
The FTSE 100 index climbed 96.80 points today to 4,426.80 today after companies such as Vodafone and Granada were pushed up by investors predicting improved corporate earnings following consolidation moves.
Vodafone led the FTSE in terms of points added to the index - 22.76 - and was in the top ten in terms of share price gain - up 8p to 108.75p - after it applied to buy out French conglomerate Vivendi Universal's holding in Vizzavi, the internet portal through which Vodafone wants to sell mobile services.
Because Vivendi is in trouble, it is likely Vodafone will pick up the business at a bargain basement price, and take complete control over an important services distribution platform for its global network.
Granada added 9.25p to 84p, making it the best share price performer after newspaper reports linked it to a merger with competitor Carlton Communications.
Factory automation tools provider Invensys put on 7.25p to 68.75p after investors were told of another milestone of the asset disposal programme being met on time.
Invensys is going to cut its debt by more than £1.5bn by selling assets and is a good way there, leading to a reassessment of its financial strength.
It was not such a good day for Astrazenica, the second biggest pharmaceutical company after GlaxoSmithKline, which lost 280p to £20.90 after it had to admit that a new cancer treatment did not improve survival rates among patients using multi-drug treatments.
The company says it will sell its new drug as a standalone treatment, but analysts warned that most cancer treatment plans include a mix of drugs, meaning Astrazenica has lost the battle to create a new drug with sales of more than $1bn per year.
The FTSE 250 mid-caps index also had a good day, gaining 60.5 points to 4,869.6 as tech stocks and a retail bid offer drove shares higher.
Arcadia led the gainers with a 39.75p rise to 340.25p after the weekend's news that BHS owner Philip Green is set on buying the company.
A new contract with Asian operators helped Logica jump 18.5p to 170.75p, while Arm Holdings climbed 16.5p to 182.75p.
But while some telecoms linked stocks were doing well, Spirent, the equipment testing company, saw its stock fall 3.5p to 66.5p.
The Dow Jones Industrial Average index has opened up 140 points at 8,919 in its first hours of trading following better than expected quarterly earnings results from a couple of the biggest US retailers.
Tackling the lack of visibility of women in financial servicescan be
To offer equity and multi asset funds
New letter to investors today