The London equities markets saw advances on Thursday, helped out by the drinks sector and the announcement that Reed Elsevier will sell one of its divisions. The FTSE 100 added 0.19 percent to 6,433.3, while the FTSE 250 gained 0.29 percent to 11,574.60.
The drinks sector was helped out by Diageo, which posted higher half-year earnings even though there were challenges in some markets and a weakening of the dollar. The maker of Johnnie Walker whisky added 2.35 percent to on the day. Brewers were also boosted by a report that InBev is talking with US company Anheuser-Busch about a merger deal. SABMiller gained 1.9 percent to £11.98, while Scottish & Newcastle was 2.3 percent higher to 579p. S&N also benefited from rumors that it could be talking with Carlsberg about a deal.
Reed Elsevier added 6.6 percent to 644½p after it said it will sell its education publishing unit. The gain came even though its full-year report on earnings and revenue was below what had been anticipated.
Defense contractor BAE Systems was 2.5 percent higher to 454p ahead of a report due next week, after Credit Suisse upped its target share price from 465p to 500p.
Plumber Wolseley was hurt after Merrill Lynch removed it from its “buy” list, dropping 2.3 percent to £13.75.