Shares in media stocks climbed on evidence of advertising growth and speculation of consolidation in the sector, helping the FTSE add 13.50 to 4,558.50 by the close.
Reuters gained 13p to 348.5p. ITV added 3.75p to 106.75p. Pearson was up 14p to 637.5p. Emap rose 17p to 791.5p. Morisson, the supermarket chain, gained 4p to 197.5p after agreeing to sell off another four former Safeway stores to competitor Asda to comply with competition authority requirements. HBOS gained 5p to 718p after CSFB published a note suggesting the company will go in with a 620p per share bid for Abbey. AstraZenica dropped nearly 10% at one stage today following a ruling from the US FDA, which looks set to block sales of an anti-blood clotting agent. Shares cl...
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