Leisure firms leave FTSE on a high after slow start

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In the UK the FTSE 100 closed the day on positive territory moving up 9.8 points to 5,275.0 after starting the day in the red.

Hilton Group helped the index get off to a strong start on confirmation it is in talks over a sale of its hotels division to Hilton Hotels of the US. Shares in Hilton Group raced 13.4% higher to close at 345.50p, spurred by news it was in talks to sell its hotels to US-based Hilton Hotels for an expected £3.6bn, more than anticipated. The prospective disposal also lifted shares in rival Intercontinental Hotels 4.9% to 723p as investors scrambled to re-rate leisure firms in the wake of the news. Leisure firm Whitbread also gained 1.4% to 970p. The oil sector was the weakest, with BG Gro...

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