Telecoms help FTSE recover

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The FTSE 100 Index fell 0.20% to 5,661 today, although this reflected stocks clawing back much of their earlier deficit, telecoms firms extending gains and HSBC cutting losses.

Vodafone received an extra boost ahead of Tuesday’s customer numbers, gaining 2.54% to 121p, on talk it may sell its 45% stake in Verizon Wireless. Aberdeen Asset Management jumped 4.41% to 159.75p after Morgan Stanley started coverage with "overweight" advice and a 185p target price. Centrica also climbed 0.66% to 265p on press reports Russia's Gazprom was considering a takeover bid for the gas provider, while Afren gained 5.31% to 59.50p after the Pan-African oil and gas group announced Chevron has started drilling an exploration well on a licence in Nigeria part owned by the AIM li...

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