On a quiet day for both corporate and macro-economic news the FTSE 100 takes its cue from strong trading in Asia overnight to stand 0.5% higher at 7,458.97.
FTSE 100 real estate investment trust Hammerson (HMSO) gains 1.4% to 596.5p as it emerges that the developer of Manchester's Trafford Centre, John Whittaker, has built a 4.6% stake in the company through his private vehicle Peel Holdings. The move is likely to fuel speculation over consolidation in the sector, Whittaker owns 27% of its rival Intu Properties (INTU).
Defence business Ultra Electronics (ULE) ticks up 0.9% to £20.50 as, in response to press speculation, it confirms it in 'advanced discussions' to acquire Sparton Corporation, its joint venture partner on an underwater sensors project for the US Navy.
Oil services firm Amec Foster Wheeler (AMFW), currently in a takeover situation with sector peer Wood Group (WG.) gains 1.5% to 483p as it agrees to sell its circulating fluidised bed (CFB) boiler unit to Sumitomo Heavy Industries for $170m to reduce net debt.
AIM-quoted oil and gas company Empyrean Energy (EME:AIM) is up 24% to 7.75p as it announces it has made a gas discovery offshore Indonesia with its Mako South-1 well.
Micro cap support services business Management Resource Solutions (MRS:AIM) falls 34.4% to 2.62p as it reveals a claim of A$3.6m from the liquidators of its insolvent subsidiary MRS Guernsey. The company says it 'considers the claim to be without merit and will defend the matter vigorously'.
Alaskan oil play 88 Energy (88E:AIM) slumps 24.7% as investors ignore a call for patience from managing director Dave Wall as the recovery of fracking fluid from its Icewine-2 well continues.
