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FTSE up as bid talk lifts G4S, but ‘bad’ RBS slumps
by Gavin Lumsden on Oct 21, 2013 at 11:37
UK shares followed the lead of stock markets in Asia overnight, with the FTSE 100 edging higher on the expectation that the US will not cut back on stimulus any time soon.
Belief that the Federal Reserve will continue to ‘print’ money to boost the US economy after the recent shutdown saw the pound hold its recent high against the dollar at $1.6163.
The UK’s blue chip index rose 12 points or 0.2% to 6,634, its eighth consecutive day of gains, led by G4S, the troubled security firm.
G4S (GFS.L) advanced 3.3% or 8p to 250p on reports that private equity group Charterhouse capital was preparing a £1 billion bid.
Royal Bank of Scotland (RBS.L) was the biggest faller, down 5% to 352p after chancellor George Osborne said he was looking at breaking up the state-owned bank into a ‘good’ retail bank and bad bank with around £50 billion of toxic assets.
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