Packaging distributor Bunzl was one of the biggest blue-chip risers yesterday after completing three acquisitions and promising more to come.
The shares added 3.4 per cent to 1,049p as brokers praised its takeovers of US and Latin American firms.
Mike Murphy, an analyst at Numis, upgraded the group from “add” to “buy” and nudged up his profit forecast.
“We believe the acquisitions will focus investor attention on the opportunities for acquired growth and we see the shares moving higher,” he said.
The wider FTSE 100 Index lost earlier stronger gains to close just 2.9 points up at 6,101.5, though that still marked a new four-year high.
Chip maker ARM Holdings built on recent gains after announcing a licensing deal with Broadcom, giving the company greater access to the US market. Shares jumped more than 4 per cent to 863.5p.
In the retail sector, Tesco surged 6.3p to 355.4p after it reported its best UK growth in three years. But Marks & Spencer offered no signs of a similar turnaround. Shares were 1 per cent lower, off 2.2p at 368.8p.
On the Alternative Investment Market, shares in Minoan Group jumped more than 12 per cent ahead of an expected announcement which could provide an update on its property development on Crete. The Glasgow-based travel firm is awaiting permission to start building a hotel and leisure park on the Greek island. Shares were up 0.9p at 7.8p.
Celtic leapt 16 per cent on the back of a new shirt sponsorship deal. Shares added 9p to 65.5p on talk that the club will receive more than £1.5 million a year from cider brand Magners – twice what it is currently paid in a joint deal with arch rival Rangers.
NEW YORK: The benchmark US Standard & Poor’s 500 index ended at a fresh five-year high last night as stronger-than-expected exports in China spurred optimism about global growth prospects.
The Dow Jones industrial average closed up 80.56 points, or 0.60 per cent, at 13,471.07 while the broader S&P 500 Index was up 11.07 points, or 0.76 per cent, to close at 1,472.09. The Nasdaq Composite Index ended the day up 15.95 points, or 0.51 per cent, at 3,121.76.