FTSE 100 down despite Cadbury takeover

Tuesday 19th January 2010

The FTSE 100 began Tuesday down half a per cent, despite the positive reaction to the news Cadbury is to be taken over by US food company Kraft.

At 09:10 GMT the London index stood at 5,466.88, a drop of 27.51 points.

The biggest loser in early trading was the brewing giant SABMiller, which fell 3.41 per cent to 1,758p, after announcing flat third-quarter underlying beer volumes.

The banking sector also suffered early drops, with Barclays down 2.12 per cent and Lloyds Banking Group, falling 1.47 per cent.

Following the confirmation of the takeover by Kraft, Cadbury saw its share price rise 3.34 per cent to 834.5p. Burberry Group led the gains, though, up five per cent to 629.5 per cent in early trading. ADNFCR-1783-ID-19564266-ADNFCR

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