In London on Friday the FTSE 100 added 0.8 percent to 6,132.7, a five-year high. The 100 was up 1.7 percent in the holiday-shortened week. The FTSE 250 was up 0.6 percent for the day and 1.8 percent on the week to close at 9,950.8.
Miners and oil were both instrumental in the day’s gains. Copper prices on the rise again after Thursday’s declines helped Antofagasta up by 5.1 percent to £24.68, its highest-ever share price. Elsewhere in the sector, Xstrata added 4.6 percent to £20.87 and Kazakhmys gained 4.3 percent to £12.39.
In the oil sector, Royal Dutch Shell was up 2.2 percent to end the day at £20.43.
Bid rumors led to gains in several sectors. Among banks, Alliance & Leicester gained 0.7 percent to £11.54 on talk that French bank Crédit Agricole would offer for A&L, possibly as soon as Monday. Elsewhere in the sector, Lloyds TSB added 0.8 percent to 530½p on renewed talk of a possible bid from Citigroup.
Gcap Media gained 8 percent to 262½p after Oriel Securities said that GCaps collection of radio stations would be an attractive acquisition.
Homebuilder Wilson Bowden added 1.7 percent to £15.72, also on bid rumors.
Shire Pharmaceuticals was up 2.3 percent to 878p after it was announced that the US Food and Drug Administration is still looking at a request that generic versions of Shire’s hyperactivity drug Adderall be subjected to rigorous testing.
Medical devices manufacturer Smith & Nephew gained 3.5 percent to 518½p ahead of its quarterly earnings report, due next Thursday.