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FTSE 100 Gains Amid M&A Talk
(RTTNews) - U.K. stocks rose on Tuesday, with underlying sentiment boosted by M&A talk and hopes for a softer U.S. inflation reading.
Meanwhile, the U.K. unemployment rate hit its lowest level in 48 years in three months to July, data published by the Office for National Statistics showed earlier today.
The unemployment rate fell to 3.6 percent in three months to July, the lowest since May to July 1974. The rate was seen at 3.8 percent.
The benchmark FTSE 100 edged up 20 points, or 0.3 percent, to 7,492 after closing 1.7 percent higher on Monday.
Software maker Aveva Group rallied nearly 3 percent amid reports that France's Schneider was nearing a deal to buy out the company.
M&C Saatchi, an advertising and marketing firm, declined 2 percent after it has once again rejected the takeover offer by AdvancedAdvt Limited, an acquisition vehicle company.
Ocado Group shares plunged almost 11 percent after Ocado Retail, a joint venture between Ocado Group and Marks & Spencer Group, flagged a dip in full-year sales. Marks & Spencer shares fell 2 percent.
Media company Future Plc soared 6 percent after saying that it expects full year adjusted operating profit to be at the top end of market expectations.
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