05/08/14 Market Movements

Market news

The FTSE100 closed up 4.96 points at 6,682.48 as Weir Group and Intertek advanced.

Weir Group was the top FTSE100 performer in percentage terms, rising 2.02% after its decision on Monday to end its corporate broker agreement with Bank of America Merrill Lynch.  The end of the agreement suggests that Weir could be a takeover target of one of its bigger rivals.

Intertek also performed well closing up 1.81% after stockbroking firm Numis raised its rating on the company from “hold” to “add”. Numis announced the rating increase after Intertek posted an increase in its interim profits and dividend.