(MENAFN- ProactiveInvestors - UK) Investors got a taste for Sweett Group PLC on Wednesday after the controversial civil engineering consultancy received a takeover bid, as shares across the board rose.
Sweett's shares soared 11p, or 47.8%, to 34p as it agreed to a 24mln takeover by Canadian group WSP Global.
Sweett (LON:CSG) got a 2.25mln fine in February after admitting allegations that it bribed officials in the United Arab Emirates in 2010. It has since pulled out of the Middle East.
In the UK, it works with organisations such as Network Rail and Transport for Londonon station upgrades, network enhancements, maintenance and depots.
WSP said the deal would help it expand in the UK and give it project and cost management services expertise.
The FTSE 100 Index kept most of its early gains, standing 33.8 points ahead at 6253 by lunchtime.
Its smaller siblings were also in positive territory. The FTSE AIM 100 was up 2.8 points and the FTSE AIM All-Share gained 0.3 points.
Markets took their cue from news that Eurozone finance ministers had approved a much-needed 10.3bn in Greek bailout funds.
But Marks & Spencer (LON:MKS) was leading the fallers after the group said a turnaround of its ailing clothing arm would take time and cost money, at least in the short term.
Investors ignored the retailer's 'get back to basics' revival plan for the division, sending its shares down almost 9% to 409.1p.
Other big food chains dropped in the wake of the news, with Tesco PLC (LON:TSCO) retreating 3.4% to 165.2p, Sainsbury PLC (LON:SBRY) off 2p to 262.1p and Morrisons (LON:MRW) down 1.1p to 195.1p.
Another big loser was technology firm Intertek Group (LON:ITRK), dropping nearly 5% to 3134p after a number of brokers updated their price targets yesterday.
But Dixons Carphone PLC (LON:DC) sparked 1.8p to 449.9p after reporting higher revenues and predicting profits at the top end of forecasts.
Cellcast plc (LON:CLTV) was on the up by 9.26% to 1.48p as the group said it was looking at diversifying into interactive broadcasting services in Africa, despite lower revenue and profit.
Independent Resources plc (LON:IRG) pared some of its earlier gains but was still 23.8% ahead at 0.06p as it more than halved its debt, by 305,000 to 230,000.
The company is developing a major oil prospect in Tunisia and a big underground gas storage scheme in north-east Italy.
Shares in oil and gas explorer Petrel Resources PLC (LON:PET) also lifted 5.9% to 4.5p on news that it expects Woodside Petroleum Ltd. (ASX:WPL) to start a 3D seismic survey of Frontier exploration licence 3/14 in the Irish Atlantic in just over a month's time.
But Judges Scientific PLC (LON:JDG) lost nearly 17.5%, down 317.5p at 1500p, as the designer of scientific instruments warned on first-half profits.
And Anglo Asian Mining Plc (LON:AAZ) was 6.5% off the pace at 10.75p after reporting gold sales in 2015 completed at lower average prices than in 2014. Silver production also fell.
Preview at 6.52am
FTSE 100 seen higher ahead of Wednesday's open
London's FTSE 100 is expected to start Wednesday in plus territory, as traders follow positive equities markets in the US and Asia.
Tuesday marked Wall Street's best trading day for about two months as technology stocks drove benchmarks higher.
The Dow Jones climbed 213 points, 1.22%, to 17,706. The S & P 500 gained 1.37% and the Nasdaq added 2% to 4,861.
In Asia, Hong Kong's Hang Seng advanced some 2.6% to around 20,340 while the Shanghai Composite edged only marginally higher. Japan's Nikkei rose 1.65% to 16,772.
Australia's ASX 200 moved 85 points, 1.62%, higher to 5,381.
Crude oil prices continue to tease the US$50 marker. On Wednesday morning Brent crude was 1.7% higher at US$49.18 while West Texas Intermediary was up 2.4% at US$49.28. Elsewhere, gold was changing hands at US$1,225 an ounce.
In London, spreadbetter and CFD provider IG Markets sees the FTSE 100 around 40 points higher this morning. It is calling the blue chip benchmark at 6,270 to 6,275 about an hour before the start of trading.
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