Imperial Tobacco bolsters FTSE 100
(Noon): Shares in Imperial Tobacco rose 2.3% after the firm moved closer to the purchase of four US cigarette brands.
Imperial is set to buy the Winston, Kool, Salem and Maverick brands, following US firm Reynolds American's takeover of rival Lorillard.
The takeover has been cleared by regulators on condition that the two US firms sell the four brands.
By midday, the benchmark FTSE 100 index was up 37.99 points, or 0.55%, at 6,986.98.
Irish cement company CRH rose 2.4% after it was announced the firm will buy assets from France's Lafarge and Switzerland's Holcim following the merger between the two.
Shares in British Airways owner IAG rose 0.7% as the airline group closed in on a takeover of Irish carrier Aer Lingus.
On Tuesday, the Irish government agreed to sell its 25% stake in Aer Lingus to IAG, removing a major hurdle to the deal.
In the FTSE 250, shares in De La Rue fell 8.7% after the banknote printer reported a drop in profits and slashed its dividend.
Underlying operating profit for the year to 28 March fell to £69.5m from £89.3m a year earlier, and the banknote printer cut its dividend by 40%.
On the currency markets, the pound was flat against the dollar at $1.5387, and was up just 0.04% against the euro to €1.4149.
- 27 May 2015
- From the section Business
(Noon): Shares in Imperial Tobacco rose 2.3% after the firm moved closer to the purchase of four US cigarette brands.Imperial is set to buy the Winston, Kool, Salem and Maverick brands, following US firm Reynolds American's takeover of rival Lorillard.
The takeover has been cleared by regulators on condition that the two US firms sell the four brands.
By midday, the benchmark FTSE 100 index was up 37.99 points, or 0.55%, at 6,986.98.
Irish cement company CRH rose 2.4% after it was announced the firm will buy assets from France's Lafarge and Switzerland's Holcim following the merger between the two.
Shares in British Airways owner IAG rose 0.7% as the airline group closed in on a takeover of Irish carrier Aer Lingus.
On Tuesday, the Irish government agreed to sell its 25% stake in Aer Lingus to IAG, removing a major hurdle to the deal.
In the FTSE 250, shares in De La Rue fell 8.7% after the banknote printer reported a drop in profits and slashed its dividend.
Underlying operating profit for the year to 28 March fell to £69.5m from £89.3m a year earlier, and the banknote printer cut its dividend by 40%.
On the currency markets, the pound was flat against the dollar at $1.5387, and was up just 0.04% against the euro to €1.4149.
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