Date: Wednesday 30 Jun 2010
Oil companies are back in favour today as investment banks try to generate fees by suggesting that BP could be taken over.
JPMorgan Cazenove suggests Exxon Mobil as a potential suitor. Meanwhile, the FT says Anadarko, a 25% partner to BP on the Macondo prospect in the Gulf of Mexico, approved several key aspects of the UK company's designs for the project.
Fellow oil companies Cairn Energy and Essar Energy are also higher today.
Anglo-Swedish drugs developer AstraZeneca tops the best performers after a favourable US court ruling in its battle to keep control of the patents to its best-selling cholesterol-lowering drug Crestor.
Investors appear to be unconvinced by Intercontinental Hotels Group's plans to expand in China. IHG has 131 hotels in China and wants to more than double that number over the next five years.
Miners are heading lower with ENRC and Kazakhmys the worst performers.
FTSE 100 - Risers
AstraZeneca (AZN) 3,170.50p +7.58%
BP (BP.) 320.60p +5.84%
Essar Energy (ESSR) 473.70p +3.52%
Barclays (BARC) 273.50p +2.30%
Cairn Energy (CNE) 416.50p +2.03%
Petrofac Ltd. (PFC) 1,182.00p +1.90%
GlaxoSmithKline (GSK) 1,140.00p +1.51%
Reckitt Benckiser Group (RB.) 3,121.00p +1.33%
British American Tobacco (BATS) 2,124.50p +1.29%
Admiral Group (ADM) 1,407.00p +1.15%
FTSE 100 - Fallers
Man Group (EMG) 224.10p -7.05%
InterContinental Hotels Group (IHG) 1,061.00p -3.98%
Invensys (ISYS) 240.60p -3.95%
Wolseley (WOS) 1,345.00p -3.10%
Eurasian Natural Resources (ENRC) 866.50p -3.02%
Kazakhmys (KAZ) 1,002.00p -2.91%
3i Group (III) 266.70p -2.74%
Capita Group (CPI) 740.00p -2.70%
Tesco (TSCO) 379.95p -2.54%
Experian Group (EXPN) 587.00p -2.49%
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