FTSE stays above 5000 barrier

London shares ended the week on a high note today after takeover speculation kept the FTSE 100 Index above the key 5000 barrier.

Chocolate-to-drinks group Cadbury Schweppes stormed ahead amid rumours of a potential takeover by Nestle, helping the Footsie close 5 points up at 5005 - its highest level since June 2002.

Tobacco firm Gallaher also added to the positive mood after speculation that Japan Tobacco was mulling a bid.

The Footsie was also buoyed by activity across the Atlantic, where the Dow Jones Industrial Average stood some 50 points higher by the end of trading in London.

The biggest Footsie risers today were Corus up 2.75p to 60.25p, Cadbury Schweppes adding 18.75p to 518p, Morrisons up 6.25p to 214.75p and Scottish Power rising 12.5p to 440.5p.

The heaviest fallers were Rexam off 2.75p to 445.25p, Reed Elsevier down 2.75p to 493.5p, Imperial Tobacco off 8p to 1450p and Yell down 2.5p to 468.5p.