U.K. Stocks Little Changed Before Holiday; Smith & Nephew SoarsJonathan Morgan
U.K. stocks were little changed after a six-day rally, as a gain in Smith & Nephew Plc offset a decline in commodity shares.
Smith & Nephew jumped 9.4 percent after people familiar with the matter said Stryker Corp. is planning a takeover bid for the U.K. medical device maker. Randgold Resources Ltd. and BHP Billiton Plc led a gauge of commodity shares lower.
The FTSE 100 Index added 11.75 points, or 0.2 percent, to 6,606.93 at the early close of trading in London for the Christmas Eve holiday. The gauge has climbed 6.9 percent from Dec. 15, when it plunged to the lowest level since June 2013 as oil’s slump deepened. The volume of shares on the gauge changing hands today was 36 percent lower than the 30-day average, data compiled by Bloomberg show.
The broader FTSE All-Share Index climbed 0.2 percent today, and Ireland’s ISEQ Index fell 0.6 percent.