The FTSE 100 is Boosted by Miners, and Takeovers Are Back in Vogue.

 

The FTSE 100 is returning to levels last reached in mid-June this year, aided by a surge in mining companies after ex-FTSE 100 component BHP’s announcement of a 26% rise in profits to USD21.3 billion and a record dividend distribution. BHP stock is now trading 4% higher in London, at 2,326p per share. Oil majors also inched upward as the price of brent levelled off after Monday’s sell-off, while takeover fever was bolstered by the revelation that Ted Baker and the cyber-security company Darktrace were both potential acquisition targets. A proposal of 110 pence per share from ABG, equivalent to 210 million British pounds, is claimed to have been advised by Ted Baker, while the American private equity company Thoma Bravo is reportedly running the numbers on Darktrace.
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