A bid offer for Scottish & Newcastle led to a surge for the FTSE at close of play today.
The index was up 0.96% to close on 6677.70 helped by the brewer’s shares which rose 18.77% to 765.00. It is expected Carlsberg and Heineken will make a cash offer for S&N shortly. Other winners today were Tate & Lyle up 7.63% and ICAP up 5.59%. Northern Rock was the biggest loser down 7.16% today while Aviva fell 2.24% despite the news it plans to deliver annualized cost savings of £350m by the end of 2009. Meanwhile, technology stocks helped the Dow Jones start the day strongly up 46 at 13,950 while the S&P 500 is up 9 to 1,548. Companies including Yahoo and Intel both announced bett...
To continue reading this article...
Join Professional Adviser for free
- 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