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FTSE lifts on Greece deal hopes

The London stock market opened on the front foot with traders believing that Greece may find itself an 11th-hour reprieve.

The FTSE 100 Index was up 81.2 to 6791.7 amid hopes that the Greek government and its creditors will reach an agreement.

This is a marked change from the last session, when the market posted four straight weeks of falls in a losing streak that began on May 25.

Sky was at the head of the top flight leaderboard after weekend reports that Rupert Murdoch and his family rejected two bids for their stake in the broadcaster, stoking speculation that they intend to make a new attempt to take full control of the company.

Shares lifted 4%, or 44p, to 1082p.

Severn Trent was also up on bid talk in the weekend press that Canadian investment company Borealis Infrastructure is considering a £5 billion offer for the water firm two years after it rejected a previous approach.

Reports in the Sunday Times said the two sides opened talks last month and discussions are still at an early stage.

Shares lifted almost 3%, or 55p, to 2110p.

Randgold Resources was trading 83p lower at 4415p, because confidence that Greece may pull through its latest round of debt woes will stem the current rally for gold as a safe haven.


From Belfast Telegraph