London’s FTSE 100 just closed up 0.80%, or 52.01 points higher at 6557.14. It’s a good day but there are some huge contrasting fortunes when you look closer.
Firstly, it was a great day for RSA Insurance. The company was the biggest riser by miles, leaping over 17% after rival Zurich Insurance said it’s considering a takeover bid.
Generic drug maker Hikma Pharmaceuticals also did well, ending up 12% after buying Roxane, a US specialist generics company, for $US2.65 billion (£1.7 billion).
But at the other end of the table Royal Mail tanked, closing down 3.6% after competition watchdog Ofcom slammed the postal operator for “unlawful discrimination” against rivals.
Business Insider Emails & Alerts
Site highlights each day to your inbox.