FTSE up slightly

Share losses from blue-chip chocolate giant Cadbury Schweppes and banking majors failed to hold the London market back from the key 6000 barrier today.

The FTSE 100 Index rose 37.3 points to 6002.2 in mid-morning trading, thanks to a strong overnight finish on Wall Street.

Hopes that America’s Dow Jones Industrial Average will kick off today’s session in positive territory also helped London stocks gain some ground.

But Dairy Milk maker Cadbury was on the back foot, shedding 3% after trading figures received a lukewarm reaction in the City.

A continued strong performance in gum meant confectionery revenues rose 7%, but Cadbury offset this by admitting it lost market share in chocolate because of its refusal to engage in a price war over Easter sales.

Shares were down 12.5p at 566p.

Friends Provident was also moving lower, off 2.8p at 132.6p, after the Financial Times reported that US private equity firm JC Flowers may end its takeover interest in the life assurer.

Banks, too, were on the fallers board, extending losses seen yesterday, with Lloyds TSB down 4.5p at 441.75p and Barclays off 3.5p at 459.75p.

ITV was enjoying better fortunes, securing its place as one of the market’s top risers with a gain of 2.1p at 63.6p, as investors eyed a possible bargain after the broadcaster’s shares fell to a new record low.

In the FTSE 250 Index, DSG International fell 0.5p to 59p, adding to the 9% fall seen yesterday after a second profits warning of the year.

Also in the second tier, Barratt Developments was up 9.75p at 379.5p, or 3% after reports that it was considering the sale of its commercial property division to ease its £1.7 billion debt burden.