Howden cooking on bid gossip

They noted suggestions that Wickes DIY chain owner Travis, up 27p to 1048p, could be on the lookout for further deals following its acquisition of plumbing and heating company BSS.

According to broker Evolution: “Travis is in the process of expanding its nascent position in the kitchens market. Howden might stack up as a target.

“Both companies are UK-focused and kitchens are a complementary line for Travis’ merchants business, which could also be complementary to Travis’ Wickes retail business.” Howden shares firmed 3½p to 115p.

Oil explorer BG Group flowed 15p positive to 1388p as takeover talk persisted, while Premier Inns operator Whitbread advanced 30p to 1712p despite analysts playing down prospects for it spinning off its Costa Coffee business in the short-term.

Broker Numis said: “Management makes it clear that Costa has had the confidence to invest, and make the calculated risks that it has taken as it has developed, because of the support offered by the larger Whitbread group. As an independent company it is unlikely that it would have developed as successfully or as rapidly as it has.”

Barclays was 6¾p in the black at 277½p as dealers cited buy support from broker Berenberg, while hopes for a positive first-quarter update lifted B&Q owner Kingfisher 6p to 285p.

Oil services group Petrofac flowed 57p north to 1528p as Collins Stewart told clients to buy with a 1900p price target, suggesting that its new energy developments business – co-investing in oil and gas production and processing assets – run by former BP executive Andy Inglis could provide “substantial earnings upside”.

Banking group Investec improved its chances of avoiding relegation from the top flight as shares rose 25p to 487p after annual results, while the outlook brightened for another firm flirting with the drop, broadcaster ITV, up 2¾p to 69¾p, as Bernstein rated the stock outperform. But engineering technology company Invensys is in danger after mixed results sent its shares 9½p lower to 299¾p.

The FTSE 100 Index had an 80-point spurt to break through the 6,000-point barrier, before closing 32.5 ahead at 5955.99 after weakness across the mining sector and profit-taking in commercial property.

Upbeat comments from Morgan Stanley boosted insurers Resolution 8½p to 309p and Lancashire 19p to 645½p, while CPP rebounded 18p to 138p as it hoped for a “swift conclusion” to talks with the Financial Services Authority, which is investigating over issues surrounding the sale of identity theft protection products.

On Wall Street the Dow Jones was up 62.59 points to 12,622.77 by close.