The FTSE 100 index gained 36.5 points, or 0.6%, to 5,706 points today, helped by a rise in US stocks after two days of heavy losses, as concerns about inflation eased.
Standard Chartered rose 1.34% to £12.83 as news of an 18m share placing undertaken by Morgan Stanley helped revive takeover hopes for the Asia-focused bank. Confectionery firm Cadbury Schweppes gained 2.09% to 513.5p after it forecast good revenue growth for 2006, but chief executive Todd Stitzer also warned continuing rises in oil prices mean it is unlikely to deliver margin growth within its target ranges in 2006. Utilities also did well with Severn Trent up 2.33% to £12.30 as a positive “overweight” note from Morgan Stanley overshadowed a downgrade from JP Morgan. On the downside, o...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
