Vodafone Rumours Support FTSE

WEDNESDAY MARKET UPDATE: Shares in Vodafone rallied by nearly 7% on rumours Verizon might buy out Vodafone's stake in Verizon Wireless or possibly buy all of Vodafone

Alanna Petroff 6 March, 2013 | 6:21PM
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Despite a rally earlier in the day, the benchmark FTSE 100 index sank back in the afternoon and ended the trading day relatively unchanged. The index edged down by 4 points, or 0.1%, to close near a 5-year high at 6,428.

"Gains were pared going into the close as some investors chose to lock in profits ahead of a busy schedule of economic data and central bank decisions for the last two trading sessions of the week," said Fiona Cincotta, a market analyst at City Index.

Meanwhile, the mid-cap FTSE 250 index held on to some of its morning gains and closed the day at 13,923, which is 62 points, or 0.5% higher, compared to yesterday's close.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Imperial Brands PLC1,589.00 GBX-0.69Rating
Verizon Communications Inc56.58 USD0.37Rating
Vodafone Group PLC131.36 GBX0.86Rating

About Author

Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.

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