The FTSE was up 0.18%, reaching 6069.60 at the close of trading today.
Following strong starts this morning, Schroders and Sainsbury managed to remain in the top five winners, climbing 3.23% and 3.07% respectively. Admiral Group led the way, up 4.12%.
Schroders is riding high following reports its €123m ISF Pacific Equity fund is coming under new management, while Sainsbury has benefited from positive sentiment regarding the sector after Credit Suisse upgraded WM Morrison to outperform and raised its price target.
However, other food names did not perform as strongly. Among the day’s biggest losers were Marks & Spencer Group - dropping by 3.73% - whose food supplier Northern Foods, closed a factory in Grantham. The closure is thought to have an effect on some of the company’s ready meal supplied. Cadbury didn’t fare too well either, falling 3.41% to 24p per share, while Tate & Lyle dropped 2.24% to 10.50p.
In the US, the Dow Jones has so far dropped 0.27%, to 12514.73. Hewlett and Packard have recorded another strong start to the day’s trading, having risen by 1.49%. Amer Intl Group Inc has sustained a significant fall of 4.29%, followed by Bank of America, falling 1.29%.IFAonline
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