FTSE 100 hits 14-year high

The FTSE 100 reached a 14-year high yesterday after a boom in takeover and merger activity here and in the US.

A late surge after a reasonably flat market helped the FTSE 100 reach 6,865.86 – up 27.8 points.

This could have been even higher if it had not been dragged down by the likes of HSBC, commentators said.

After last week’s huge announcement that Facebook is buying Whatsapp for $19bn, markets on both sides of the Atlantic have been giddy, with investors yesterday pushing Vodafone up 6.68%and Bunzl 6.88%.

The S&P 500 index in the US reached an all-time high of 1858.71 yesterday.

Meanwhile, on the FTSE 250, the rumoured merger of Carphone Warehouse and Dixons saw shares rise by 8.82% and 6.66% respectively.

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