Reuters: Hot Stocks: Severn Trent surge lifts FTSE 100 to new high

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Severn Trent surge lifts FTSE 100 to new high May 14th 2013, 07:14 LONDON | Tue May 14, 2013 3:14am EDT LONDON May 14 (Reuters) - Britain's top share index rose in early deals on Tuesday to a fresh 5-1/2 year high, led up by a surge in Severn Trent after it received a takeover approach, lifting the utilities sector. Severn Trent surged 18.1 percent after it confirmed that it has received an approach with a view to making a proposal by a consortium led by Canadian infrastructure investor Borealis and the Kuwait Investment Authority. Peer United Utilities rose 4.6 percent to be the second-top gainer and both firms were traded heavily. By 0709 GMT, the FTSE 100 was up 16.44 points, or 0.3 percent, at 6,648.20, with utilities adding 5.5 points to the index. (Reporting by Alistair Smout; editing by Simon Jessop)

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