The FTSE 100 came close to a fresh four and a half year high as it climbed 18.2 points, or 0.32%, to 5,722.6, but closed well off the day's best level as oil and tobacco shares fell.
But insurance firm Prudential gave the FTSE a boost, climbing 4.16% to 576p, as long-running talk that rival Aviva might be interested in a bid burst back into life after Prudential dropped JPMorgan Cazenove as its broker and appointed Goldman Sachs. Ports and ferries group P&O also rose 3% to 522p, after agreeing to a $6.4bn takeover bid from Singapore's PSA International, throwing out a previously agreed bid by Gulf state-backed Dubai Ports World. Cigarette makers Gallaher and Imperial Tobacco dropped, with Gallaher slipping 2.36% to 867p, while Imperial Tobacco fell 2.04% to 1,633p. ...
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
