Morning Markets: FTSE boosted by Cadbury bid

clock

The FTSE 100 is being spurred forwards by Cadbury this morning on news the British chocolate maker has received a £10.2bn takeover approach from US goods giant Kraft.

After just over an hour of trading, the blue-chip index was up 52.94 points (1.09%) to 4904.64, while Cadbury – which has rejected the merger proposal – has soared 38.03% to 784p. Food and consumer goods providers Unilever and Premier Foods have also enjoyed gains of 2.96% to 1670p and 8.72% to 46.51p respectively. Meanwhile, Associated British Foods has climbed 3.51% to 840.5 points following strong trading so far in this half of the year and the forecast of an improvement in adjusted earnings over the full year. In Tokyo, the Nikkei 225 finished today’s trading up 133.83 points (...

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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Future of Investment Festival: Our specialist sessions for advisers

Future of Investment Festival: Our specialist sessions for advisers

Future-proofing advice, building sustainable portfolios, all things SDR

Professional Adviser
clock 19 April 2024 • 2 min read
Why non-transparent managers are behind most failed acquisitions

Why non-transparent managers are behind most failed acquisitions

‘They don’t understand the importance of culture and cohesion’

Rami Cassis
clock 12 April 2024 • 3 min read
Partner Insight: Understanding the investment universe

Partner Insight: Understanding the investment universe

Invesco
clock 12 April 2024 • 6 min read