LONDON, July 29 A proposed mega-merger between
global ad agencies Publicis and Omnicom buoyed leading UK peer
WPP on Monday to help keep Britain's top share index
near two-month highs.
Elsewhere, U.S. generic drugmaker Perrigo agreed to
buy Ireland's Elan for $8.6 billion, while UK insurer
Aviva is in talks over a deal to expand in Asia, a
weekend newspaper report said.
The FTSE 100 was up 34.73 points, or 0.5 percent at
6,589.52, by 0708 GMT.
The index is hovering near 8-week highs, although the recent
rally of more than 9 percent since June lows showed signs of
running out of steam but a fresh blast of M&A could help
underpin those gains.
"Markets will continue to push higher, helped particularly
by the $35 billion merger of Publicis and Omnicom, Aviva's push
into Indonesia, and Perrigo's bid for Elan boosting market
sentiment," Mark Ward, head of trading at Sanlam Securities,
The world's no.1 ad agency WPP topped the list of
FTSE 100 risers, up 4 percent after French peer Publicis
and U.S. firm Omnicom announced a $35.1 billion
(Reporting by David Brett; editing by Simon Jessop)