FTSE 100 Live: Private equity circles cheap London firms; early FTSE gains fizzle

Blue-chip shares have continued their recent progress after the FTSE 100 index posted its fourth successive weekly gain on Friday. London’s top flight returned above 7900 this moning as the banking turmoil that brought volatile conditions only a month ago fades. It also emerged this morning that FTSE 250-listed oil engineering consultancy Wood has opened takeover talks with private equity firm Apollo.