Trade in the London equities markets was slow again on Tuesday, as only 2.6 billion shares changed hands on the session. Still, both the FTSE 100 and FTSE 250 saw gains on the day. The 100 added just 0.03 percent to 6,242, while the 200 was 0.2 percent higher to 11,131.
The energy sector was mixed. Reports that it was having problems at two of its nuclear power stations sent British Energy 3.9 percent lower to 444p, amid further reports that it is being hurt by dropping wholesale prices for power. Bids rumors helped Scottish & Southern Energy to hold steady at £14.75, while Drax Group added 2.2 percent to 690½p as investors hoped for higher dividends.
J Sainsbury added 0.6 percent to 435p on rumors that a private equity house could be considering a bid. Numis Securities repeated its “buy” recommendation on the supermarket and said that the value of its properties could be an attraction.
In the food and beverages sector, Cadbury Schweppes added 1.4 percent to 576½p on multiple rumors that included the possibility of a bid from private equity and a spin off of its soft drinks unit.
Medical devices manufacturer Smith & Nephew was 1.8 percent higher to 577½p ahead of its full-year report, due next week. Analysts said that it was helped by good reports from US rivals Zimmer and Stryker.
Vodafone dropped 1.3 percent to 147p ahead of a trading update, due Wednesday.