London’s leading shares index struggled to find direction today as downbeat housing data in both China and the US saw the recent upbeat mood stutter.

Chemicals firm Croda International, which is based in Goole, East Yorkshire, has completed the £410m (€608.5m) acquisition of Uniqema from ICI.

The FTSE 100 Index hit its highest level since mid-May today as interest rate worries which have blighted global stock markets for more than a month showed signs of easing.

The UK’s largest chemicals firm, which makes Dulux paint, unveiled a business-transforming deal today after agreeing to take on a key division of ICI for £410m (€593m).