- FTSE 100 up 0.08%, FTSE 250 up 0.1%
- easyJet gains on Apollo's 5.7 billion-pound takeover bid
- Vodafone jumped after e& said it would sell its stake for almost $6 billion
July 10 (Reuters) - London's FTSE 100 inched up on Friday, supported by deal-driven gains in Vodafone and easyJet, though Middle East tensions kept a lid on further upside.
The blue-chip FTSE 100 index rose 0.08% to 10,480.31 points by 1053 GMT, while the midcap FTSE 250 gained 0.1%. However, both indexes remained on track to post weekly losses.
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Vodafone jumped 12.6% to the top of the FTSE 100 after the UAE telecoms group e& said it would sell its stake in the British telecoms company to the family investment vehicle of French billionaire Xavier Niel in a deal valued at nearly $6 billion.
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easyJet rose 14.5% to top the FTSE 250 after the budget carrier agreed in principle to a 5.7 billion-pound ($7.65 billion) takeover approach from Apollo Global, helping travel and leisure stocks lead sectoral gains, up 1.6%.
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Industrial metal miners followed, gaining 0.8%, with Atalaya Mining , Antofagasta and Rio Tinto rising between 1.4% and 1.8%.
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Renewed Middle East tensions weighed on investor sentiment after Iranian forces attacked U.S. military infrastructure in Gulf states, further undermining a three-week-old ceasefire and raising uncertainty over the conflict's trajectory.
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Investment banks and brokerages fell 0.8%, with St. James's Place among the FTSE 100's worst performers, sliding 8.7% following a report that Sovereign Wealth — one of the money manager's largest partner firms — was in talks to join a Swedish wealth management group.
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Shares of Hays rose 13.8% after the recruiter said it expects annual operating profit at the top end of market expectations, helped by cost cuts and improved consultant productivity.
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On the political front, Andy Burnham moved closer to becoming Britain's next prime minister after securing overwhelming backing from Labour lawmakers, putting him in a strong position to succeed Keir Starmer.
Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Vijay Kishore
Source: Reuters