SABMiller sale talk brews one-week high for blue-chip - London Report

Britain's top share index climbed to a one-week high yesterday, with SABMiller surging about 20 per cent after news that AB InBev, the world’s largest brewer, was to make an offer to acquire the UK firm, the world’s second largest.

The blue-chip FTSE 100 index finished 1.5 per cent stronger at 6,229.21 points. Earlier in the session, it rose to 6,244.94 points, the highest level in a week.

Shares in SAB, which owns such brands as Peroni and Grolsch, spiked 19.9 per cent, while AB InBev, with the Budweiser, Stella Artois and Corona brands, was up 6.4 per cent.

Shares of Glencore finished up 5.2 per cent after it raised about £1.6bn in a share placing to institutional investors, carrying out part of its debt-reduction plan.

Elsewhere on the FTSE 100, Royal Bank of Scotland fell 0.4 per cent. The bank agreed to pay $129.6m (£83.7m) to settle claims it sold toxic mortgage-backed securities to now-defunct US credit unions.

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