Further evidence of a recovery in corporate Europe helped the FTSE gain about 12 points to 4,582 this morning as German banks reported some of their strongest quarterly gains since the bear market started in 2000.
BAE Systems led, up 6p to 221.5p after confirming it is mulling a bid for its warships building business. Xstrata is up 8p to 685p after coal prices in South Africa set a new record on Asian demand. Unilever is down 5.5p to 558.5p ahead of results due later this week, as investors place their bets on the extent of recovery in the firm’s food unit, which was hurt last year by the popularity of the Atkins diet and demand for low-carbohydrate foods. The FTSE 250 index is up about 7 points to 6,374. Manchester United led the gainers with a 6.25p rise to 254.5p after US investor Malc...
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