Footsie gains again to end week on high

The FTSE 100 capped off a week of growth with another positive showing as the markets prepared for the Christmas trading period.

Coming down off major post-election gains at the end of last week, the FTSE closed Friday up 8.66 points, to 7,582.48.

It represents a 2.5 per cent rise since the markets opened on Monday.

“The FTSE’S rally showed signs of running out of steam approaching the weekend,” said analyst Fiona Cincotta.

It comes as MPS on passed Prime Minister Boris Johnson’s Brexit bill, setting a 31 January date for the UK to leave the European Union.

But markets were largely unaffected, having already expected the vote to be a success for Johnson.

In company news, the board of Just Eat is backing a plan to merge with Dutch firm Takeaway.com, as a bidding war for the British food delivery giant reaches its final stages.

The company said it would support a new offer from Takeaway of 916p per share after it and rival suitor Prosus made their final bids on Thursday.

Neil Woodford’s last remaining fund will be taken over by Aberdeen Standard Investments (ASI), administrators have announced.

The investment giant has agreed a deal to control the £267 million Income Focus fund, two months after it was frozen by administrator Link Fund Solutions. Shares in Standard Life Aberdeen closed up 1.8p at 331p.

Anglo-dutch oil giant Shell closed down 37p at 2,232p after it said it expects to be hit by an impairment of up to £1.8 billion for the year.