Allied Domecq leads on London

Allied Domecq led gainers on the FTSE 100 in London at mid-day on Thursday. It’s shares were up 3.6 percent to 666p after its board recommended acceptance of a takeover bid by a group led by Pernod Ricard of France and Fortune Brands of the United States.

Allied Domecq’s rivals were also generally higher, as SABMiller rose 1.2 percent and Scottish and Newcastle was up by 0.2 percent. Gains in that sector were not universal, however, as shares in Diageo fell 0.3 percent.

The FTSE 100 was up 0.1 percent to stand at 4,826.7 at mid-day. The FTSE 250, though, was down 0.1 percent to 6,971.8.

The retreat on the FTSE 250 was led by Spirent, which was down a substantial 24.9 percent after issuing a warning that its operating profits will fall below expectations, and that it in fact will likely post an operating loss of around £10m for the first half.

In consequence, Citigroup downgraded Spirent to “hold.”

Computacenter was also lower, by 1.3 percent. Colt Telecom was up 4.6 percent as they dismissed rumors of a takeover and reported higher quarter-to-quarter earnings.

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