Bunzl spinoff kickstarts FTSE week

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The FTSE 100 index has started well this morning, adding around 18 points to 5,024.6 points led by a 10% surge from Bunzl up 49.50p to 519.50p.

The firm said it would spin off its Filtrona cigarette-filter unit to focus on supplying food packaging and services to clients such as Wal-Mart Stores. Filtrona accounted for 16% of the company's sales of £2.92bn. Food group Tate & Lyle has also added 9.75p to 525p. Pearson, publisher of the Financial Times meanwhile, shed 15.5p to 636.5p after announcing falling second-half profit. Japan's Nikkei 225 Stock Average added 0.7% to 11,740.60 at its close early Saturday morning, led by export company Toyota, after a better than expected economic report out of the States. Additionally...

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