London’s FTSE 100 Index closed down 10 points to 6,318.2 today, with volumes dented as US traders were away from their desks for President’s Day.
Generally subdued business was broken by interest in broadcaster ITV amid speculation it is ripe for a takeover.
ITV’s shares closed at the highest level since May 2007 – up 3%, or 3.3p to 120.3p – as traders bet on it becoming the target of a bid, with the mood buoyed by the recent acquisition of Virgin Media by US cable giant Liberty Global.
Tesco was also lifted – up 2.2p to £3.67 – on the back of reports the retailer had held talks with David Cameron about a multimillion pound investment in India, ahead of the Prime Minister leading a trade mission to the country.
Rival supermarket Morrisons was near the top of the risers’ board, up 2.7p to 263.9p, after it stepped up plans to expand its convenience stores business by buying 49 sites from failed DVD and games rental chain Blockbuster.
Other strong FTSE 100 performers included National Grid – up 10.5p to 692.5p – and Imperial Tobacco, which gained 38p to £23.56.
Anglo American fell 56p to £19.83 after security staff were attacked and nine miners shot with rubber bullets in the latest wave of violence to hit its South African mine.
Chilean copper specialist Antofagasta was off 21p at £10.98 as other miners came under pressure.
The first day of formal dealings in housebuilder Crest Nicholson saw shares fall 3.5p to 261.2p, giving it a market value of more than £660million.
The stock was first traded at £2.20 in conditional dealings last week but quickly surged as investors welcomed the first big stock market flotation of 2013.
Stuart Lamont, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted Faroe Petroleum up 3.6% to £1.45, Aggreko rising 1.7% to £17.08 and Royal Dutch Shell ‘B’ 0.5% ahead at £21.61.
Parkmead Group was off 3.3% at 14.4p, Petrofac fell 1.6% to £16.18 and Amec slid 1.6% to £10.10.