London - Britain's top equity index stayed near its highest level in around a week on Friday, helped by Imperial Tobacco which advanced on the back of bid rumours.
The blue-chip FTSE 100 index was flat at 6,332.04 points, but Imperial Tobacco outperformed to rise 3.3 percent in trading volumes above those of the broader market.
“Imperial racing ahead. Bid rumours everywhere,” said Justin Haque, director at Hobart Capital Markets.
Haque said Japan Tobacco might bid for it, while another trader said rival British American Tobacco could make a bid. Officials at Imperial Tobacco could not be immediately reached for comment on the matter.
Among stocks to lose ground was security company G4S, which fell 3 percent as JP Morgan cut its price target on the stock.
The FTSE 100 is down around 4 percent since the start of 2015 and some 10 percent below a record high of 7,122.74 points reached in April.
The FTSE has fallen back in the second half of this year, along with other global markets, on concerns about a slowdown in China and uncertainty over the timing of a possible US interest rate hike.
REUTERS