Headline shares closed strongly, near session highs and well over the key 6,000 level.
At the close of play, the FTSE100 was up 46.2 points at 6,036.3 with the FTSE250 ahead 79.3 points at 9,929.9 and the AIM100 50.6 points higher at 5,983.2.

Volume was strong with 3.8 billion shares changing hands in 226,219 deals.

However, overall the FTSE 100 rose just 0.6 per cent and the mid cap 250 rose 0.9 per cent this week.


Today’s look at individual Stocks:


Tesco (TSCO) gained 3.4 per cent to 346p after reports in this morning's Daily Telegraph that the supermarket chain might place its £12bn property portfolio into a Real Estate Investment Trust (reit). The UK’s largest supermarket chain played down the report. “We have no plans to do anything,” Tesco said, but admitted that it was something it would look at.


Meanwhile a stock that has been on my watch list on and off for a couple of weeks, International Power (IPR) had takeover speculation revived boosting the stock up 3.7 per cent to 284p.


Marks & Spencer (MKS) was the top riser in mid-afternoon trading, adding 20.5p at 571.5p.


The big story today was Aviva withdrawing its £17bn bid for Prudential (Britain's second biggest life assuror). Aviva said,

It was unlikely that there would be a further offer. Aviva has made it clear that its proposal was dependent on the co-operation of Prudential. As this co-operation has not been forthcoming, Aviva has decided to withdraw its proposal

the group said in a statement this afternoon.
This will no doubt disappoint investors who had hoped it might raise its bid.

Prudential had rejected the proposed all-share offer - worth 685p a share or £16.5bn based on Aviva's closing share price on Thursday. Prudential commented saying “it undervalued the business and that a merger would dilute its growth prospects”.
Prudential’s shares slumped 34.5p to 681p.


Oil heavyweights lent support to the market, as crude prices edged closer to the $64 mark on the back of weaker than expected US inventories.

BP (BP.) closed up 13p (2%) at 668.5p and Shell added 34p at 1,840p.


On the M&A front, Gallaher was today's speculative target, up 9p to 857p as rumours circulated again that the tobacco firm could be a bid target for Japan Tobacco. More on this story on Monday.


It was not all-good news today and we did have some losers on the markets.

GCAP Media shares lost 6.75p to finish at 235.25p after the radio group said it expects total revenues for the year to end March to be down 13% year-on-year.