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FTSE 100 slides despite Vodafone boost FTSE 100 slides despite Vodafone boost
(about 4 hours later)
Shares in Vodafone rose after the mobile phone company said that its Indian unit was in merger talks.Shares in Vodafone rose after the mobile phone company said that its Indian unit was in merger talks.
Vodafone rose 2.8% after it announced talks were under way between its Indian business and Idea Cellular. Vodafone rose 2.6% after it announced talks were under way between its Indian business and Idea Cellular.
A combination of the two would create India's biggest telecoms firm.A combination of the two would create India's biggest telecoms firm.
Vodafone was the biggest riser on the FTSE 100 in early trade, but despite the mobile company's gains the benchmark share index was down 54.37 points, or 0.8%, at 7,130.12. Vodafone was one of the biggest risers on the FTSE 100, but despite the mobile company's gains the benchmark share index was down 54.94 points at 7,130.12 shortly after midday.
In the FTSE 250, shares in WS Atkins jumped more than 6% following a report in the Times that the company had been approached by US company CH2M over a possible merger. Shares in Tesco fell 3.4%, giving up some of Friday's gains when the stock surged in the wake of news of its planned tie-up with food wholesaler Booker.
Over the weekend, press reports suggested the deal faced a lengthy investigation from competition regulators. Shares in Booker fell, with the FTSE 250 company down 3.4%.
Also in the FTSE 250, shares in WS Atkins jumped 5.6% following a report in the Times that the engineering company had been approached by US company CH2M over a possible merger.
Flybe shares dipped 1% after the airline said it had seen a "slow start" to trading since the start of the new year, blaming "uncertain consumer confidence and poor weather".Flybe shares dipped 1% after the airline said it had seen a "slow start" to trading since the start of the new year, blaming "uncertain consumer confidence and poor weather".
That was despite the carrier reporting "solid" trading for the final three months of 2016, with revenues boosted by extra capacity. Flybe said passenger revenues rose 13.5% in the quarter, compared with 5.7% in the previous six months.That was despite the carrier reporting "solid" trading for the final three months of 2016, with revenues boosted by extra capacity. Flybe said passenger revenues rose 13.5% in the quarter, compared with 5.7% in the previous six months.
On the currency markets, the pound slipped 0.1% against the dollar to $1.2537, and was little changed against the euro at 1.1728 euros. On the currency markets, the pound fell 0.4% against the dollar to $1.2502, but rose 0.2% against the euro to 1.1751 euros.