FTSE tops 5000 before slipping just below
The FTSE 100 Index celebrated a major landmark today as it broke through the 5000 barrier before slipping back.
The feelgood factor that has helped the top-flight advance 200 points since the beginning of the year was in evidence around lunchtime as the Footsie hit an intraday high of 5003.
But investors became more cautious as the session wore on and many opted to bank profits, ensuring the Footsie closed 5.1 points lower at 4990.4.
Progress was helped by fresh takeover activity in the second-tier where supermarket chain Somerfield became the latest company to field a bid approach.
Shares in supermarket chain Somerfield topped the FTSE 250 with a 14%, or 22.5p, hike to 184.5p on news of a takeover proposal from acquisitive Icelandic group Baugur.
Shell led the Footsie fallers, down 3% after its stock went ex-dividend – meaning investors are no longer entitled to the current payout. Shares were 14.5p cheaper at 472.25p.
Household products group Reckitt Benckiser faded 7p to 1574p even though it posted results ahead of market expectations.
Airports operator BAA rose 8.5p to 626.5p after saying its seven UK airports handled 9.9 million passengers in January, up 7.4% on the same month last year.
The biggest Footsie risers today were ITV up 3p to 125p, Yell Group adding 10.75p to 469.25p, GlaxoSmithKline up 22p to 1232p and WPP Group adding 9.5p to 592p.
The heaviest fallers were Shell down 14.5p to 472.25p, InterContinental Hotels falling 15p to 682p, BT Group down 4.5p to 206p and Rio Tinto falling 29p to 1621p.
