Business

London Market Report

  • 14 July 2014
  • From the section Business

(Close): The London market edged higher on Monday, with the FTSE 100 index closing up 58.66 points, or 0.88%, to 6,748.83.

UK drug firm Shire's shares jumped 1.3% after it said it would recommend US firm AbbVie's sweetened offer of £53.20 per share to shareholders.

Sports Direct shares rose 3.6% after it said it would enter the Australian and New Zealand markets for the first time.

The expansion comes after it agreed a deal with discount retailer MySale.

The FTSE 100 saw its biggest weekly drop since March last week after fears over concerns about the health of Banco Espirito Santo - one of Portugal's biggest banks.

On the currency markets, the pound fell 0.19% against the dollar to $1.70820 and dipped 0.31% against the euro at 1.25370 euros.