A strong performance by BPB has pushed the FTSE 100 higher with a gain of 30 points or 0.55% to 5,460 after the plasterboard supplier agreed to an increased offer from Cie de Saint-Gobain SA.
BPB, the world's biggest producer of gypsum, jumped 28p or 3.78% to 769.5p after Saint-Gobain - Europe's No. 1 distributor of building materials - agreed to buy BPB for £3.89bn or 755p a share. GUS, Britain's second-largest retailer by market value, climbed 27p or 3.18% to 877p, even though the company said first-half earnings had slipped 6.9% to £276.5m, as this still exceeded the £253m estimate of analysts. Elsewhere, Rio Tinto led gains by mining companies after copper rose to record levels. and rose 3% to £23.80 as copper for delivery in three months time rose as much as 1.1% to $...
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
