London stocks surge again on latest takeover moves
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy London’s market rally continued on Friday as the FTSE 100 lifted to its latest record closing price, with the recent takeover frenzy continuing. Anglo American was higher again despite rebuffing its mammoth takeover bid from BHP, while a private equity swoop for Darktrace helped drive the FTSE 250 to strong gains. Chris Beauchamp, chief market analyst at IG, said: “The bidding bonanza for UK-listed firms goes on, and this is acting as a constant reminder to global investors that, even with the FTSE 100 at a record high, UK stocks look cheap compared to their US cousins. The banking giant revealed an operating pre-tax profit of £1.3 billion over the first three months of the year, down 27% from £1.8 billion the previous year, but also highlighted higher customer deposits.