MARKET REPORT: Royal Mail posts 5% rise
ROYAL Mail was the FTSE's top riser yesterday, as it benefited from the turmoil at rival City Link and lifted nearly 5 per cent.
In its first session of trading since the news, shares in the privatised firm closed 19½p higher at 442½p.
Over 2,500 jobs could be at risk at City Link after it went into administration over Christmas. Royal Mail is said to be interested in taking on some of its main customers.
City Link owner Better Capital, which lost more than 40 per cent of its value in 2014, was ½p down at 88½p.
However, there was no Christmas hangover for the FTSE 100 Index, which was up 23.58 points at 6633.51, with mining giants digging out some of the biggest gains.
Three industry heavyweights, BHP Billiton, Rio Tinto and Anglo American were all among the top blue chip risers.
1.9 billion shares changed hands in light trading
Rio Tinto was up 78½p to 2966p, BHP Billiton lifted 38p to 1407p, while Anglo American jumped 32½p to 1214½p.
The gains mark a change of fortunes for mining stocks, which have been hit in recent weeks by lower metals prices and anxiety about oversupply in the iron–ore market.
Shares in artificial joints and medical equipment maker Smith & Nephew rose 20p to 1193p after a report that US rival Stryker is ready to make a bid for the company.
In a good day for the supermarkets, Tesco shareholders received some good news as its shares were up 2½p to 188½p. Rival Sainsbury's was up 1¼p to 246p and Morrisons was 1¼p ahead at 183p.
Stock market newcomer Jimmy Choo, the luxury shoe maker, walked tall as one of the top risers in the FTSE 250.
Its shares were up 5p to 175p amid hopes that women would be treated to a new pair of heels over the Christmas period.
Indivior made its market debut with a fall of 3p to 142p, as some of the excitement over the pharmaceutical company's recent creation through a demerger from Reckitt Benckiser, down 10p to 5215p, started to fade.
Other top–flight fallers across the FTSE 100 included BT, which was down by 11¼p to 405½p despite positive investor reaction to its expected purchase of mobile network provider EE.
Holiday giant TUI fell 8p to 1060p while Burberry lost 2p to 1653p.
The Dow Jones industrial index in New York closed 15.48 points down at 18038.23.
