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British shares lifted by financials, consumer staples; Sanne Group shines

Published 05/14/2021, 03:33 PM
Updated 05/14/2021, 03:40 PM
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 up 0.7%, FTSE 250 adds 0.8%

May 14 (Reuters) - British shares rose on Friday, helped by
gains in heavyweight financial and consumer staples stocks,
while Sanne Group topped the mid-cap index after rejecting a
$1.90 billion buyout proposal.
The blue-chip index .FTSE rose 0.7%, with software company
Sage Group SGE.L adding 3% after reporting a
better-than-expected 4.4% rise in first-half organic recurring
revenue and forecasting growth for the year to be toward the top
end of its 3% to 5% range. Banks .FTNMX301010 and large dollar earning consumer
staples companies were among the biggest boost to the index.
Spirits maker Diageo DGE.L rose 1.8% after HSBC raised its
price target on the stock.
In global markets, shares snapped a three-day decline,
reflecting an overnight revival on Wall Street, as Federal
Reserve officials reiterated that price pressures from the
reopening of the economy would prove transitory. MKTS/GLOB
The domestically focused mid-cap FTSE 250 index .FTMC
advanced 0.8%.
Alternative asset and corporate services firm Sanne Group
SNNS.L jumped 27.7% after it rejected private-equity firm
Cinven's 1.35-billion-pound ($1.90 billion) buyout offer.

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