The retirement of 3i's chief executive at 50 and the raising of its three billion euro takeover fund seems to be driving trading on the London Stock Exchange this morning.
3i announced its results this morning to reveal chief executive officer Brian Larcombe will finally step down from Europe's largest publicly traded private equity firm, after holding the post since 1997.
This has boosted the FTSE 100 by 27.8 points or 0.65% to 4,337.2.
Royal Dutch/Shell Group is also reported to be signing a $200m deal with Libya to explore for gas off the coast, boosting the share price of Shell Transport of Trading, boosting its share value by a modest 3p or 0.84% to 358.25p.
Anglo American has also seen its share price rise 26p or 2.11% to £12.56 while BHP Billiton is up 6p or 1.27% to 478p.
Friends Provident has also gained 2.75p or 1.97% to 142.25p along with Schroders which is up 15.5p or 2.66 to 598.5p.
Trading in Asia is more confident this morning, thanks to a Japanese government report showing a widening trade surplus – a move which has lifted the Japanese Topix index to its highest level since 2001.
The Topix index closed up 1.2% to 1160 and the Nikkei 225 Stock index gained 1.5% to 11,530.91 by the 3pm close in Tokyo.
All the big industrial names – Kyocera, Nippon Steel – made the most of gains, however, Hong Kong's Hang Seng index shed 0.9% after Li & Fung and PetroChina reported earnings lower than some traders had hoped for.
And in the US yesterday, it was only the Nasdaq which managed to make any gains yesterday, partly because the EU fine imposed on Microsoft for anti-competitive behaviour was seen as so substantial.
By close of business, the Dow Jones closed down 15.4 points or 0.15% to 10,048 while the S&P 500 index lost 2.62 points or 0.24% to 1,091 and the Nasdaq closed up 7.68 points or 0.4% to almost 1,909.5.IFAonline
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