THE WORST performing sector - electronic and electrical equipment - fell 8 per cent. GEC fell 10 per cent as hopes of a possible merger with British Aerospace, which had buoyed shares in recent weeks, faded. Small companies Arlen, Videologic and Emess hit new lows for the year. Copyright: IOS & Bloomberg Copyright: IOS & BloombergReuse content
The Best performing sector in the FT-SE 100 last week was alcoholic beverages, which rose 2.6 per cent. This was largely driven by trading in Guinness and Grand Metropolitan, which rose 2.2 per cent and 4.4 per cent respectively - the companies are in merger talks. LVMH, the French luxury goods group which has a 14 per cent stake in Guinness, has been buying Grand Met shares, and brokers have been recommending the stocks. Some of the gains were lost on Friday on news that US competition authorities made a second request for information on the proposed merger. The European Commission is also considering an inquiry into the merger.