AFP - The FTSE 100 index finished near its session high Friday as investors took heart from signs of more merger and acquisition activity in the banking sector.
The FTSE 100 index finished near its session high Friday as investors took heart from signs of more merger and acquisition activity in the banking sector.
"Speculation that a Korean bank may look to buy troubled Lehman Brothers lifted the sector as a whole," said Jimmy Yates, a trader at CMC Markets in London.
Media stocks also chalked up gains after advertising company WPP Group announced a 14.5 percent rise in first-half net profit.
WPP shares advanced 3.4 percent to 492 pence.
Vodafone was the most traded stock, seeing 122 million shares change hands, followed by Lloyds TSB, which saw 84 million units switch owners.
Liberty International was the greatest blue chip riser, up 70 pence -- or 8 percent -- to end at 945, followed by Lloyds, which was up 19.5 -- or 6.96 percent -- at 299.5.
Eurasian Natural Resources was the biggest FTSE faller, down 29 penc -- or 2.73 percent -- at 1033, followed by mining group Xstrata, which slipped 59 pence -- or 1.87 percent -- at 3101.
-- Dow Jones Newswires contributed to this report --