(From Guardian Unlimited)
Another rise at British Airways, a spate of bid talk and a revival in mining stocks helped leading shares edge into the black today after early falls.
BA climbed another 9p to 551p after the last minute cancellation of this week's planned cabin crew strikes. Collins Stewart said it expected a GBP20m hit on profits, since many of the flights that BA had cancelled in anticipation of the strike could not immediately be rescheduled. Although the broker is not expecting much from this week's third quarter figures, it believes the shares will receive a boost once investors begin focussing on the prospects for 2008 and beyond, so it retains its buy recommendation. There is also the prospect of a bid for the airline.
Speaking of bids, Cadbury Schweppes continued its recent good run, up 8p to 576.5p as takeover talk refused to die down. US rivals Hershey, Kraft - which is expected to be spun off by owner Altria tomorrow - or private equity bidders were being mentioned. Alternatively, some traders suggested the company could spin off its beverages business.
Medical group Smith & Nephew, which specialises in …