Friday lunchtime business bulletin

May 2 2008 By Andrew Mernin

The London market moved well into positive territory today after good news from across the Atlantic and takeover rumours closer to home.

Expectations of a good opening for New York enabled the FTSE 100 Index to keep hold of gains made in the wake of yesterday’s strong session for the Dow Jones Industrial Average.

With a range of stocks making advances in London, including an improvement for some of the bigger banks, London’s Footsie was 59.9 points higher at 6147.2 by lunchtime.

One of the few blackspots was the energy sector which suffered from the falling price of oil.

Insurers were amongst the big gainers after reports that German group Allianz may be considering a large acquisition in the UK insurance sector. Admiral rose 36p to 895.5p, and Royal & Sun Alliance added 5.6p to 140.2p.

But high street retailers Next and Marks & Spencer led the way. Fashion chain Next rose 80p to 1227p ahead of a trading update planned for next week, with Marks & Spencer 18.5p better off at 401p.

Single people are twice as likely to consider declaring themselves insolvent as their married counterparts, a survey showed today.

Around 9% of people who are single said they had thought about going bankrupt or taking out an individual voluntary arrangement (IVA), compared with just 5% of those who were married, according to financial information website iva.co.uk and Tuxedo Money Solutions.

The research found that 7% of single people had considered taking out an IVA, under which interest on debt is frozen in return for a set amount being repaid each month, something 4% of those who are married had considered doing.

A further 3% of both single people and those who are married had also thought about declaring themselves bankrupt, with some people considering both options.

People who were not in a relationship were also more likely to be struggling with debts than those who did have a partner, at 18% compared with 15%.

The entertainment group which runs the London Eye, Alton Towers and Madame Tussauds added the London Aquarium to its portfolio today.

Merlin Entertainments has bought the sea life centre in the South Bank’s County Hall from its Japanese owners.

The value of the 35-year lease on the site, which houses 400 species including sand sharks, stingrays and a "Finding Nemo" clownfish in more than 50 separate displays, has not been disclosed.

It welcomes more than 750,000 visitors a year, and is just a stone’s throw from the London Eye.

The pound at noon was US$1.9879 compared to US$1.9753 at the previous close while the euro at noon was £0.7779 compared to £0.7826 at the previous close.