LONDON MARKET CLOSE: FTSE 100 Posts Eighth Weekly Gain; Glencore Slips
LONDON MARKET CLOSE: FTSE 100 Posts Eighth Weekly Gain; Glencore Slips. The mid-cap index hit a fresh record high of 21,057.73 in morning trade.The AIM All-Share closed up 0.3%, or 3.35 points, at 1,088.60, ending the week up 0.6%.The Cboe UK 100 ended down 0.1% at 13,194.96, the Cboe UK 250 closed down 0.1% at 19,215.65, and the Cboe UK Small Companies ended up 0.2% at 12,888.89.In European equities on Friday, the CAC 40 in Paris ended down 0.1%, while the DAX 30 in Frankfurt closed down 0.3%.In European data on Friday, Eurostat showed the eurozone trade surplus increased in March from a month before as exports grew faster than imports.The seasonally adjusted trade surplus rose to EUR21.2 billion in March from EUR20.9 billion in February. Q2 and Q3 could thus be make or break," said Michael van Dulken, head of research at Accendo Markets.Vodafone closed down 1.5% after Citigroup cut the telecommunications firm to Neutral from Buy.It was a better session for FTSE 100-listed DS Smith, closing up 2.0%.Davy raised the paper and packaging firm to Overweight from Neutral, believing the stock is set to benefit from an improving European packaging dynamics.In the FTSE 250, outsourcer Capita gained 6.5% after JPMorgan late Thursday raised the stock to Overweight from Neutral.NEX Group closed flat after shareholders approved the proposed GBP3.90 billion takeover of the company by US-based exchange operator CME Group.Towards the other end of the index, Grainger closed down 3.4% after Barclays cut the property investment company to Equal Weight from Overweight. At that price, the sale raised GBP237.5 million.Elsewhere on the Main Market, Carpetright closed up 11% at 37.00p after after it confirmed it has begun a previously planned fundraise worth GBP60.0 million as part of a company voluntary arrangement.Carpetright is placing 232.5 million new shares at a price of 28.00 pence each, a 16% discount to its closing price on Thursday of 33.25p.The company said GBP6.0 million of this will cover CVA costs, GBP12.5 million the repayment of the principal for a loan secured from shareholder Meditor, and GBP33.0 million will fund its capital expenditure plans.