The FTSE 100 has moved ahead in early trading this morning, boosted by news Friends Provident has agreed a merger with Clive Cowdery's Resolution consolidation vehicle.
London's blue chip index, also buoyed by a rise in profits from International Power, was up 13.95 points (0.30%) at 43736.15 points by 10am. The deal is Resolution's fourth takeover bid and sees Friends Provident valued at £1.86bn. It has led shares in Friends Prov to rise 2.27% to 76.7p. International Power holds the top spot after announcing an interim profit increase. It is 5.72% higher to 262.2p so far this morning. Consumer packing firm Rexam has climbed 3.8% to 240.3p, while asset manager Schroders (non-voting) has added 1.97% to £10.10. Lloyds leads this morning's fallers...
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