HBOS takes FTSE higher

HBOS has risen 2.5% to 962p after Citigroup raised its price estimate for the stock 4.3% to 1,200p. British Energy has climbed 4.3% to 729.5p. The utility said it supplied 60.4 terawatt-hours of nuclear-generated electricity in the year ended 31 March, 1% more than the previous year. Cadbury Schweppes has also climbed 2.2% to 571p after UBS AG raised its recommendation on the stock to "buy" from "neutral". In Japan, the Nikkei 225 Stock Average gained 117.26 points, or 0.7%, to 17,350.12 points after US Federal Reserve minutes increased speculation a policy of raising interest rates m...