The FTSE 100 has opened up - as expected - by 11 points, or 0.2 per cent higher, tracking overnight gains on Wall Street on heightened optimism over global growth prospects.
Tesco boss Phil Clarke appointed Chris Bush, managing director, having last year stepped in to manage the UK stores himself following the firm's first profit warning in 20 years.
Rumours persist that it will not be too long before another cash-rich private equity player parks its tanks on Chemring's lawn. That juicy prospect and a UBS upgrade helped shares climb to 279p before closing 7.7p better at 274p.
The FTSE 100 index rose 45.02 points to 6098.65 – the strongest close since May 2008 before the collapse of Lehman Brothers and near meltdown of the global banking system.
Bond specialist Twenty Four Asset Management is launching an investment company focused on floating rate, mortgage-backed securities. In a special report we explain why this is significant.