FTSE down more than 50 points

The FTSE 100 Index slipped more than 1% by noon today as weakness in banking stocks offset one of the London market's biggest takeover deals of recent times.

FTSE down more than 50 points

The FTSE 100 Index slipped more than 1% by noon today as weakness in banking stocks offset one of the London market's biggest takeover deals of recent times.

Cadbury shares jumped 3% after it accepted defeat in its long-running takeover tussle and recommended that its shareholders back US food giant Kraft's 840p a share or £11.5bn (€13.13bn) takeover offer.

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