London’s equities markets were up on the day Thursday as the FTSE 100 added 1.6 percent to 5,677.7 and the FTSE 250 gained 1.5 percent to 9,190.5.
The telecoms sector was mixed on the day. BT Group added 1.45 percent to 226¾p on rumors that Deutsche Telecom is thinking about proffering a bid. The rumor, reported by a German business magazine, was considered possible by many analysts. Elsewhere in the sector, Vodafone was up 3.5 percent to 118p on a “buy” recommendation from Credit Suisse. Cable & Wireless, however, dropped 2.5 percent to 97½p after it issued a disappointing full-year report and a cancellation of its announced share buyback.
PartyGaming was up 0.8 percent to 123¾p, but analysts believe that shares in the online gaming business will open 3 to 4 percent lower tomorrow, taking into account that just before the close of the trading day the US House Judiciary Committee approved legislation outlawing online gambling in the United States, sending the bill on to the full house for a vote.
Airports operator BAA dropped 5.6 percent to 787½p on news that the Office of Fair Trading will investigate the UK airport industry to determine whether the current structure of the market works to the advantage of consumers.
Gainers included pub operator Mitchells & Butlers, up 3.7 percent to 499¼p when stake building rumors by Robert Tchenguiz continued to circulate.
The mining sector also saw gains as metals prices rebounded. Kazakhmys added 5.4 percent to £10.76, while Antofagasta gained 3.6 percent to £20.68.