By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.K. stocks rose in Wednesday's half-day
trading session, with shares of Smith & Nephew PLC logging
their best rise in six years on a report of a takeover bid.
The FTSE 100 closed up 0.2% to 6,609.93, its seventh consecutive
win. The last run of seven straight wins took place in February.
Trading in London closed early for the Christmas and Boxing Day
holidays. The market will reopen on Monday.
Shares of Smith & Nephew PLC topped the FTSE 100 on
Wednesday as they climbed 7.7%, the strongest advance since October
2008, according to FactSet data. That move added to Tuesday's more
than 4% rise, which followed a Bloomberg report that U.S.
surgical-implants maker Stryker Corp. (SYK) is preparing a bid for
the medical-devices maker.
An offer may be presented in the coming weeks, and may represent
a significant premium to Smith & Nephew's current share price,
the report said.
Oil shares ended higher, outperforming a pullback in oil
futures, with Brent crude moving below $61 a barrel. Royal Dutch
Shell PLC tacked on 0.7%, and Tullow Oil PLC rose 0.6%. BP PLC and
BG Group PLC each rose 0.2%.
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