FTSE 100 rises on boost from personal goods stocks; Liontrust lifts mid-caps
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UK's FTSE 100 index opened higher on Thursday led by personal goods shares, while Liontrust Asset Management rose after it failed to secure required investor support for its proposed takeover of GAM Holding AG, lifting mid-cap stocks.
Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.
Published by
24 Aug 2023
The exporter-heavy FTSE 100 index rose 0.8%, while the domestically-focussed FTSE 250 index climbed 0.9%.
Personal Goods shares climbed 1.3%, leading sectoral gains.
GAM has entered into discussions with a shareholder group, the fund manager said, after a takeover offer from Britain's Liontrust Asset Management failed to gain the required level of support.
Shares of Liontrust rose over 9% and was the biggest gainer on the FTSE 250 index.
On the other hand, life insurers Aviva and Legal & General were down 1.6% and 1.0%, respectively, trading ex-dividend.
British energy services firm Hunting said it was restructuring its operating footprint further and selling more non-core exploration and production assets to cut costs, sending its shares down 1.2%.
Shares of Harbour Energy fell 2.6%, after UK's largest North Sea oil
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