The FTSE 100 index closed down 8.9 points at 4,396 today as negative newsflow continued to pressure the biggest telecoms firm.
Vodafone fell 2p to 131.75p after investors continued withdrawing money because of unspecified plans by the firm to launch a bid for AT&T Wireless in the US, while news from Germany raised the issue of the company’s massive aggressive bid for Mannesmann some four years ago.
AstraZenica led the pharmaceutical sector down, shedding 60p to 2,594, while GlaxoSmithKline followed suit losing 19p to 1,173p.
Daily Mail & General Trust fell 14.5p to 689p after competitor Richard Desmond, owner of the Express newspapers launched a counterbid for Daily Telegraph assets being sold by Conrad Black’s Hollinger International.
ITV paced the gainers, adding 4.25p to 140.25p as new valuations again pushed the share price up.
MmO2 gained no Vodafone’s losses, adding 2.5p to 88.5p.
The FTSE 250 index added 16.5 points to 6,134.7.
Arla Foods added 6,25p to 58.5p as speculation gained on whether it would put a bid in for some of Italian foods group Parmalat, which is fighting a collapse triggered by accounting fraud.
Pilkington shed 3.75p to 95.5p as investors shied away from its recent high price just over the £1 level.
Psion fell 1.75p to 62.75p as the fallout from its sale of a stake in Symbian to Nokia continued to reverberate.
Share trading in New York was set alight earlier today by Comcast’s bid for Disney, which could cost $54bn in Comcast paper alone, and marks the return of blockbuster share-based deals. Disney shares rocketed $3.54, or more than 14% to $27.62 helping send the Dow Jones Industrial Average index up about 58 points to 10,671 currently.IFAonline
First mentioned in Cridland Report
Second acquisition of 2019
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.
Four key areas to focus on
And 94% for critical illness