Talk of takeover at WH Smith and M&S has encouraged the FTSE 100 to gain just a little more ground this morning, however, GKN has pulled trading downwards.
The FTSE 100 Index increased 0.4% to 4537.7 after WH Smith surged a whopping 84p or 32% to 344p after confirming it is in talks with private-equity company Permira Advisers.
Marks & Spencer Group, the high street retailer, is also up 9.25p, or 3.5% to 273. 75p after a national newspaper suggested there were two possible bidders for the company.
However, GKN, the military parts manufacturer, has so far fallen 3.75p or 1.6% to 235.75p.
In the Asian markets, trading is not as hot in Japan, as another newspapers suggested one of the banks suggested it would have to “recategorize” some of its loans and raise reserves to cover potential defaults.
As result, Mizuho Financial Group Inc., Japan's largest bankand rival to UFJ – who may have to redefine debt - dropped 2.9% to Yen 496,000 while Mitsubishi Tokyo Financial Group declined 2% to Yen 1m.
The Topix index ended the day down 1.1% to just under 1183, with banks accounting for a third of its drop, while the Nikkei 225 index closed down 60 points or 0.51% to 11,764.
And in the US on Friday, both the Dow and the S&P closed up at least 50 basis points.
The Nasdaq Composite index lost 6.43 points or 0.32% to 1,995.7 but the S&P 500 index gained 5.77 points or 0.51% to 1.134 while the Dow Jones index lost 54.5 points or 0.52% to just under 10.452.IFAonline
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