In the UK the FTSE 100 Index leading shares added 0.6% to 5414.80, paced by shares of Friends Provident, which rose 3.9% to 180.50p amid speculation the company may be a takeover target.
Axa SA, Europe's second-biggest insurer, yesterday bought 21.5 million shares in Friends Provident, increasing its stake in the company by 1% to more than 15%. The purchase is part of the normal management of the Paris-based company's assets, Axa spokeswoman Clara Rodrigo said yesterday. Rio Tinto, the world's third-largest mining company, added 77p, or 3.7%, to 2,147p. BHP, the biggest miner, rose 24 pence, or 2.8%, to 870.5p. Anglo American, the world's No.2 miner, climbed 73p, or 4.9%, to 1,552p. BP, the world's second-largest oil company, added 8p, 1.2%, to 654.5p after analyst...
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