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Tuesday 06th of January 2009
July 5, 2005

FTSE makes slight gains on strong trading volume


by Brian Turner
FTSE makes slight gains on strong trading volume

In London on Tuesday, the FTSE 100 gained 0.1 percent to 5,190.1 while the FTSE 250 fell 0.4 percent to 7,407.4 on a volume of 3 billion shares traded.

British Airways was up 2.1 percent to 271 ¾p on reports of an 8.5 percent rise in premium traffic and a move to increase passenger fuel surcharges to protect profits from higher fuel prices.

In the drinks sector, speculation about takeovers and mergers surrounded pubs and bars group Mitchells & Butlers as shares gained 2.5 percent to 343p on a volume of 9.5 million shares, double its usual daily volume.

This rise in value and volume came on the possibility that the company might be the target of a takeover.

Brewer Scottish & Newcastle was linked to the speculation even though it has left the pubs industry to focus on brewing.

The rumors advanced shares in S&H by 0.7 percent to 467 ¼p. Also linked to a possible deal with Spirit Group.

Bookmaker William Hill added 2 percent to 551p on improved results and tight cost controls.

This news also aided Hilton Group, owner of Ladbrokes, to gain 1.4 percent to 294.75p.

TV broadcaster ITV gained 0.6 percent to 129 ¼p on speculation that Apax Partners, a US private equity firm and Goldman Sachs might join forces to buy ITV.

Goldman Sachs, however, later downplayed the possibility of a deal.

Bus and train operator Go-Ahead Group lost 4.5 percent to £12.80 as it was feared that higher fuel prices and wage inflation could cut into operating margins.

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