London stock market continues to rise by midday

• Source: Xinhua
• [10:15 July 14 2009]
• Comments

Insurance firms pulled the London stock market higher by midday on Monday after investment firm Resolution said its bid approach to Friends Provident had been snubbed.

The FTSE 100 index was up 52.22 points, or 1.27 percent, at 4,179.39 points.

Friends Provident jumped 10 percent and other insurers also rose on hopes the sector could see consolidation. Aviva added 2.2 percent and Standard Life was up 1.85 percent.