LONDON, Oct 7: London investors will look to merger and acquisition news next week to drive share prices higher, alongside a smattering of corporate results and economic data.
The FTSE 100 index of leading London shares closed at 5,362.3 points on Friday, shedding 2.15 per cent or 115.4 points from the previous week.
The index had closed above the 5,500-point level for the first time in four years on Monday, with news of merger plans by Boots and Alliance UniChem boosting the market.
However the FTSE fell heavily, in line with other global stock markets, during the remainder of the week on concerns about the outlook for the US economy amid expectations of higher US inflation and interest rates.
“European equities look attractive,” noted ABN Amro analyst Rolf Elgeti.—AFP
