The FTSE 100 Index climbed 28.1 points, or 0.4%, to 5993.2 led by Corus Group after the steelmaker agreed to sell most of its aluminum unit and reported better-than-expected profit. Royal Sun Alliance Insurance Group also surged on takeover speculation.
Corus jumped 9p, or 11% to 85.25p. The UK’s biggest steelmaker said the aluminum plants will be sold for 826m euros ($994m) to Aleris International. Shares of Royal & Sun Alliance, Britain's second-largest non-life insurer, gained 6.25p or 4.73% to 138.25p, touching the highest in more than three years. In the US stocks have gained for a fifth day after a government report showed inflation is in check, signaling the Federal Reserve may limit the number of interest-rate increases. The Dow Jones Industrial Average has added 51.45 points, or 0.5%, to 11,261.22 its highest point since ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
