UPDATE 1-Britain's FTSE rises as pounds weakens; bid war hopes lift Inmarsat [Reuters (UK)]
INMARSAT PLC ADR (IMASY)
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Source: Reuters
UPDATE 1-Britain's FTSE rises as pounds weakens; bid war hopes lift Inmarsat | Reuters Reuters Staff 3 Min Read * FTSE 100 up 0.7 pct * UK factory output shows biggest monthly fall since 2012 * Shire turns lower as Takeda bid meets opposition * Dealmaking supports mid-cap index (Adds closing prices, details) MILAN, June 11 (Reuters) - Export-oriented firms led British shares higher on Monday as a weaker pound stood to made them more competitive, while hopes of a bidding war boosted satellite provider Inmarsat. Investors were cautious, however, as the pound’s weakness resulted from an unexpected decline in UK factory output in April, raising concern that the British economy’s sluggish start to the year continued. The FTSE 100 index ended up 0.7 percent at 7,737.43, its highest close in a week and helped by gains in big international companies such as British American Tobacco and Diageo, up 1.2 and 2.4 percent respectively. “Defensive stocks are dominating the FTSE leaders, suggesting a
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