City News

Commodity stocks lead the way as FTSE edges higher

The FTSE 100 Index was up 27.2 points at 6326.2

The London market made modest gains today, although drinks giant and takeover target SABMiller saw its shares come under pressure after reports suggested it is likely to reject a £70 billion takeover offer.

Strong summer beer sales cheer drinks maker SAB

SABMiller said surging demand in emerging markets helped underlying net revenues lift 6% and sales by volume rise by 2% over the three months to the end of September

Peroni and Grolsch firm SABMiller toasted a strong summer for beer sales despite a "material" currency hit ahead of a potential blockbuster deal with the owner of Budweiser and Stella Artois to create a drinks giant worth more than £180 billion.