By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.K. stocks rose Wednesday, with Smith
& Nephew PLC rising at the start of the half-day trading
session on a report of a takeover bid.
The FTSE 100 rose 0.3% to 6,615.09, moving toward its seventh
consecutive win. The last run of seven straight wins took place in
February.
Shares of Smith & Nephew PLC topped the FTSE 100 on
Wednesday as they climbed 7.4%. That 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.
Oil shares were also advancing, outperforming a pullback in oil
futures, with Brent crude off 0.6%, but still above $61 a barrel.
Tullow Oil PLC rose 2%, BP PLC gained 1.4%, and Royal Dutch Shell
PLC tacked on 0.6%.
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