Britain's Stocks Rise for First Time in Five Days on M&A Newsby
U.K. stocks rebounded, rising for the first time in five days, amid deals activity.
SABMiller Plc climbed 2.5 percent after Anheuser-Busch InBev NV submitted a formal offer to buy it. ICAP Plc jumped 6.2 percent after Tullett Prebon Plc agreed to buy its voice broking business. Tullett Prebon lost 7.4 percent. TalkTalk Telecom Group Plc surged 12 percent after saying it’s on target to meet analysts’ estimates for this year.
The FTSE 100 Index advanced 0.6 percent at 9:38 a.m. in London, heading for its biggest increase in two weeks. Almost three-quarters of its companies climbed, with the volume of shares changing hands about 15 percent lower than the 30-day average. The gauge kept its gains after a report showed U.K. unemployment fell to the lowest in more than seven years in the third quarter.
The broader FTSE All-Share Index also rose 0.6 percent, while Ireland’s ISEQ Index added 0.5 percent.