London shares continued their winning run today as the FTSE 100 Index once more tested the 4,400 barrier.
The FTSE, which has enjoyed three consecutive sessions of gains, stood 11 points higher at 4,399.7 in the first hour of trading.
The performance came despite a subdued end to the session for the Dow Jones Industrial Average, which remained close to its opening mark despite a robust set of GDP figures earlier in the day.
On the corporate front, ITV pair Granada and Carlton took centre stage after announcing higher-than-expected merger savings of £100m pa.
The figure – accompanied by further signs of a slowing in the decline of the advertising market – pleased analysts as Granada shares surged to the top of the FTSE risers’ board, up 3.5p to 122p. Second-tier Carlton added 7.5p to 229.5p.
Among other stocks in the FTSE 250 Index, Hays gained 3.75p to 130p after announcing an agreement to sell the bulk of its logistics arm for £102m.
It was joined on the risers’ board by specialist lender Paragon, up 10p to 315p, after announcing a strong start for recent acquisition Britannic Money.
References: EGi News 26/11/03
