A late surge by investment manager Amvescap on top of big gains by Shell helped the FTSE gain 12.70 points to 4,642.80 by the close.
Amvescap picked up 23.25p to 298.75p. Shell Transport & Trading closed up 11.75p at 435.5p On news it will combine with Royal Dutch Petroleum to simplify ownership of Royal Dutch/Shell. Unilever is up 11.75p up to 464p as investors speculated the company could turn around from its results published yesterday. Big fallers today include BHP Billiton and Rio Tinto, after China's central bank raised its benchmark interest rates for the first time in nine years to curb inflation, prompting concern about slowing demand. BHP Billiton dropped 41p to 1,423p. Rio Tinto declined 21.50p to...
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