Sector movers: Software lifted by Micro Focus reports
The software & computer services sector led the FTSE 350, while various sectors were in the red due to large stocks going ex-dividend.
Reports that software group Micro Focus has attracted the attention of US hedge fund Elliott lifted the stock from its recent lows, also buoying a few others in the sector.
Shares in the FTSE 100 group recently nosedived after the company downgraded its profits guidance less than six months after completing the reverse takeover of HP Enterprise's software arm, including some part of the former Autonomy.
News from Bloomberg that activist Elliott had bought a stake in Micro Focus sent the shares spiking up more than 12% above 1,300p before easing to 1,258.5p, where they were up around 7.5%.
Household goods and media were among the sectors at the bottom of the leaderboard as Reckitt Benckiser and ITV went ex-dividend.
Elsewhere in media, Sky shares closed lower, after an up and down day with shareholders not sure what to make of the ruling from the UK Takeover Panel that Disney will have to make a mandatory takeover offer for the satellite broadcaster within 28 days of the completion of its acquisition of 21st Century Fox's assets, if the rival Fox and Comcast bids fail.
Disney must make its offer at a fixed price of £10.75 in cash per Sky share unless 21CF has acquired 100% of the Sky Shares, or any third party has acquired more than 50% of the Sky shares.
"At this stage, Sky shareholders are advised to take no further action," Sky said, adding that it will announce further advice to shareholders in due course.
Top performing sectors so far today
Software & Computer Services +2.50%
Food & Drug Retailers +2.46%
General Retailers +2.05%
Oil Equipment, Services & Distribution +2.02%
Leisure Goods +1.50%
Bottom performing sectors so far today
Household Goods & Home Construction -1.03%
Media -0.94%
Tobacco -0.84%
Oil & Gas Producers -0.79%
Aerospace and Defence -0.60%