Testing and inspections provider Intertek is the best performer on the Footise after paying £450m for Moody, a provider of quality and safety services to the global energy industry. The purchase of Haywards Heath-based Moody on a cash-free and debt-free basis will create "significant" benefits and opportunities, including pre-tax cost synergies of about £6m by the third full year of ownership.
Burberry is higher after Verdict suggested that the top end of the clothing retail market will grow by nearly 30%, to £8.6bn, by 2014.Financial Times publisher
Pearson has added to its educational activities with the 200p a share purchase of qualifications group Educational Development International (EDI). That values EDI at about £112.7m. Miner Xstrata has appointed outgoing Vodafone chairman Sir John Bond as its new chairman.Satellite operator
Inmarsat has slumped after it warned growth had slowed in the last quarter of 2010 and early 2011 due to lower usage levels.
FTSE 100 - Risers
Intertek Group (ITRK) 2,015.00p +6.11%Burberry Group (BRBY) 1,200.00p +3.63%ARM Holdings (ARM) 598.50p +2.57%Investec (INVP) 476.00p +2.45%Fresnillo (FRES) 1,647.00p +2.43%Pearson (PSON) 1,116.00p +2.29%Man Group (EMG) 283.20p +1.87%Xstrata (XTA) 1,449.50p +1.72%SABMiller (SAB) 2,106.50p +1.59%BP (BP.) 501.40p +1.52%FTSE 100 - Fallers Inmarsat (ISAT) 613.50p -10.37%Serco Group (SRP) 607.50p -1.78%Admiral Group (ADM) 1,659.00p -1.25%IMI (IMI) 945.50p -1.20%Imperial Tobacco Group (IMT) 1,922.00p -1.03%British Land Co (BLND) 580.50p -0.85%United Utilities Group (UU.) 585.00p -0.68%Land Securities Group (LAND) 768.00p -0.65%Reckitt Benckiser Group (RB.) 3,148.00p -0.57%Wolseley (WOS) 2,150.00p -0.51%
Burberry
Pearson
Intertek Group