Severn Trent Plc (SVT), And FTSE 100 (UKX) Shares That Soared and Plunged This Week

LONDON — After a strong showing last week, the FTSE 100 (INDEXFTSE:UKX) has gone on to even greater things, climbing another 98 points (1.5 %) to end this week at 6,723, setting yet another new five-and-a-half-year record of 6,727 points along the way on Friday. Despite being briefly shaken by fears that the Federal Reserve might start softening its stimulus policies by summer, the FTSE 100 (INDEXFTSE:UKX) has now recorded six straight days above the 6,600 level.

Here are three of the week’s biggest risers, and one faller.

Severn Trent Plc (LON:SVT)
Water supplier Severn Trent Plc (LON:SVT) led the index after its price soared 345 pence (19%) to 1,270 pence on Tuesday morning, on the news of a takeover approach from a consortium comprising Borealis Infrastructure Management, the Kuwait Investment Office, and Universities Superannuation Scheme Limited. The bid was rebuffed the next day, with the Severn Trent Plc (LON:SVT) board telling us it “completely failed to recognize the existing and potential value” of the group, but the price has remained high, possibly on hopes for a renewed bid. Severn Trent Plc (LON:SVT) ended Friday at 2,050 pence, up 223 pence (12%) on the week.

Marks & Spencer Financial Services plc
Department-store chain Marks & Spencer Financial Services plc saw its stock rise for the week ahead of its full-year results, with the price picking up 31 pence (7.3%) to end the week at 451 pence. The company’s most recent quarterly update, released on April 11, revealed its “strongest quarterly sales growth in the last two years,” with overall sales up 3.1% year on year and multichannel sales up 23%. The full results are due on Tuesday, May 21.

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The article FTSE Shares That Soared and Plunged This Week originally appeared on Fool.com is written by Alan Oscroft.

Alan Oscroft and The Motley Fool have no position in any of the stocks mentioned.

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