FTSE 100 rises on boost from personal goods stocks; Liontrust lifts mid-caps
by Reuters
2023-08-24
Aug 24 (Reuters) - UK's FTSE 100 index opened higher on Thursday led by personal goods shares, while Liontrust Asset Management rose after it failed to secure required investor support for its proposed takeover of GAM Holding AG, lifting mid-cap stocks.
GAM (GAMH.S) has entered into discussions with a shareholder group, the fund manager said, after a takeover offer from Britain's Liontrust Asset Management (LIO.L) failed to gain the required level of support.
Shares of Liontrust rose over 9% and was the biggest gainer on the FTSE 250 index.
On the other hand, life insurers Aviva (AV.L) and Legal & General (LGEN.L) were down 1.6% and 1.0%, respectively, trading ex-dividend.
British energy services firm Hunting (HTG.L) said it was restructuring its operating footprint further and selling more non-core exploration and production assets to cut costs, sending its shares down 1.2%.
Shares of Harbour Energy (HBR.L) fell 2.6%, after UK's largest North Sea oil and gas producer narrowed its annual production forecast range.
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