As Europe’s biggest bank HSBC advanced 21.1p to 735p on better-than-expected first-quarter profits, its name was being mentioned as a possible buyer of BinckBank. of the Dutch online discount broker climbed around 3 per cent to a 52-week high of €6.20 amid growing speculation of a bid approach north of €9 a share.
BinckBank offers a full service online banking facility for investors and is ranked in the top five in Europe. It has struggled in recent years and, at the current price, would now be a perfect bolt-on for any industry player.
Apart from HSBC, BinckBank’s major 10 per cent shareholder Delta Lloyd has been sniffing around and is now gearing up to make a move.
Buying ahead of today’s update on trading for the three months to the end of March 2013, helped international bank Standard Chartered jump 43p to 1700p. Shore Capital is bullish and says Standard remains an attractive long-term investment owing to the company’s focus on high growth markets and its strong balance sheet.
Barclays added 11.3p to 307.4p, while part UK taxpayer-owned Lloyds Banking firmed 1.14p at 55.19p. Strength in heavyweight banks and miners helped the fabulous Footsie close 35.84 points up at a five and a half year peak of 6,557.3.
The mood across the Pond was bullish too following last Friday’s bigger-than-expected 165,000 increase in US non-farm payrolls in April, which brought the jobless rate down to 7.5 per cent, the lowest since December 2008.
Wall Street traded 30 points up to an intra-day record and the S&P 500 powered through the 1,600 for the first time ever in early trading.
Eurasian Natural Resources jumped 17.7p to 310.4p after Russian tycoon and metals billionaire Suleiman Kerimov increased his stake in the company to 3.06 per cent. The Kazakh miner is already in receipt of a bid approach from a group of key shareholders. led by co-founder Alexander Machkevitch.
More... Market report brought to you in association with Killik & Co. For market advice check out killik.com FTSE CLOSE: Footsie powers to new five-year high, but G4S shares tumble 15% following trading updateKazakhmys, which sits on 26 per cent of Eurasian’s equity, rose 12.5p to 385p.
Shrugging off growing concerns about its burgeoning pension deficit, telecoms giant BT buzzed 6.9p higher to 281.9p ahead of Friday’s annual results. Broker Espirito Santo expects it to announce the pricing and package details for its sports channel, including live Premier League matches, with the figures.
Excellent half-year results left Numis Securities 6p dearer at 154p. The stockbroker and investment bank has been involved in 65pc of funds raised on the LSE in 2013 to date, helping pre-tax profits soar from £2.6m to £9.2m in the six months to the end of March on revenues 39 per cent higher at £32.4m. Its client list grew 13 per cent to 153 over the period.
Awaiting confirmation of its joint venture deal with supermarket group WM Morrison (0.3p easier at 292.7p), online grocer Ocado jumped 11.5p to 187.5p.
Cairn Energy slipped 7.6p to 281.5p after announcing it has agreed to farm into two licences and six licensing options. The acreage contains two undeveloped fields and significant exploration potential. Providence Resources, a 32 per cent partner in the operation, closed flat at 595p.
A positive first-quarter trading update helped insurance group Hiscox rise 7p to 565p. Total premium income growth rose 12 per cent, well ahead of full-year forecasts of a 3 per cent increase.
A Liberum Capital sell recommendation in the wake of a cautious trading update and acquisition news left TeleCity 2p easier at 943.5p. The computer services company has paid £25m to acquire Sadece, an Istanbul-based company operating a data centre. The broker deems the deal to be a bit expensive.
Iofina, which has developed a proprietary process to extract iodine from the waste water brine streams co-produced by on-shore US oil and gas producers, soared 34.75p or 18.56 per cent to 222p.
GW Pharmaceuticals was initially supported up to 65p on news that its Cannabis-based Sativex treatment has been approved for sale in Italy.
Late profit-taking left the close 0.38p lower at 49.88p.
Specialist medtech company Angle added a penny to 49.5p after announcing the appointment of specialist regulatory company, Medical Device Management, to manage the process of obtaining regulatory authorisations for the clinical use of the Parsortix cell separation system.
Buying on the back of a positive trading update helped Ideagen advance 1.88p or 9.26 per cent to 22.12p.
Online advertising group Digital Globe Services rose 14p to 194p following contract news. Serviced Office Group was unchanged at 3.25p after announcing it has taken a 10-year lease on 22,000 sq.ft. of office space at Evergreen House, Euston.
With bidders rumoured to be breathing down its neck, online gaming company Betfair rolled out a bumper trading update. It left its shares 6p better at 851p but still well below the rejected proposed 880p a share offer from CVC Partners.
Management claimed that revenues and profits would be at the top end of forecasts at £387m and £73m as it finished the year very strongly. CVC has until May 13 to table a formal bid.