The FTSE 100 index closed up 1.12% at 5,787 points, its highest level since June 2001, led by M&A activity and an upbeat start on Wall Street.
The biggest riser amongst the London blue chips was P&O, gaining 4.70% to 547p, after Dubai Ports upped its offer for the company to 520p per share cash, valuing the group at about £3.9bn. The deal has received the recommendation of the group's board in light of rival bidder PSA’s 470p per share offer. Mining heavyweights were still in the blue after posting big gains in Australia overnight on high hopes for metal prices going forward. BHP Billiton rose 1.20% to 1,052p, Xstrata gained 2.12% to 1,635p and Anglo American rose 3.11% to 2,187p. Oil stocks also chipped in, with BP and Royal ...
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