Matthey takeover bid boosts FTSE

clock

In London, markets rose as rumors spread of a takeover offer for Johnson Matthey, and the FTSE 100 added 52.4 points (0.83%) to 6,336.9.

Johnson Matthey shares gained 88 points (5.05%) on news of the potential offer, ending the day on £18.31. Shire shares added 40 points (3.54%) to £11.71. Tullow Oil shares failed to recover from news that a Ugandan oil well is showing signs of depletion, down 20.5 points (3.15%) to 629.5p, while the Daily Mail dropped 9.75 points (1.97%) to 485.25p. On Wall Street, markets fell in early trading despite renewed confidence in technology stocks, and the Dow Jones lost 23.65 (0.18%) to 13,183.62. Microsoft shares made the biggest gains, up 0.5 (1.44%) to 35.29, while Du Pont added 0.59 (1.3...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read