The second best-performing stock of the week was Grand Metropolitan, which rose 10.3 per cent. Guinness was the third best, rising 9.8 per cent. The two companies announced plans to merge in a transaction valued at pounds 12bn. This will create the world's sixth-largest consumer products company and the UK's eighth-biggest public company.
The worst-performing stock on the index was clothing retailer Burton Group, which fell 9.39 per cent. Although the company announced sparkling figures for the first half with a 23 per cent rise in profit, investors are concerned that this cannot be sustained especially as the flagship Burton Menswear is suffering from declining sales.
The second worst-performing stock was Legal & General, which dropped 7 per cent. The shares had risen steeply ahead of the AGM and investors took the chance to lock in profits. Copyright: IOS & BloombergReuse content