FTSE edges close to 5200 barrier
04/07/2005 - 11:32:54The FTSE 100 Index was heading towards a new milestone today as takeover talk continued to surround broadcaster ITV.
By mid-morning, the Footsie advanced 17.6 points to 5178.6, leaving it within striking distance of breaking through the 5200 barrier for the first time in more than three years.
ITV led the improvement after bid speculation sent its shares soaring. The stock advanced 4% or 5p to 129.75p after a consortium including Time Warner, Goldman Sachs and Apax Partners was reported to be planning an approach for the company.
Oil heavyweights BP and Shell followed ITV in the list of Footsie risers as investors continued to cheer the high price of crude.
BP added 3% or 19.5p to 613.5p following an upbeat note from broker Smith Barney, while Shell advanced 11p to 564p.
