This Week's Market Movers

Vodafone teams up with BT to launch a broadband service. Miners fall as commodities come off the boil and bid news lifts water shares.

London shares were unchanged this week despite a flurry of takeover news. By mid-morning on Friday, the FTSE was unmoved for the week at 5,879 points.

Biggest Movers in the FTSE 350 (as at Friday 10am)

Telecoms were in the spotlight this week after Vodafone (LSE: VOD) said it planned to enter the competitive broadband market. Vodafone, up 3% to 117p, has teamed up with BT Group (LSE: BT.A) to offer its own brand of broadband services. Meanwhile, BT, which rose 5% to 261p, outlined growth targets for its Global Services unit.

GlaxoSmithKline (LSE: GSK) said it has settled a long-running dispute with the US taxman. The settlement, which was for less than investors feared, left its shares unmoved at 1,462p. Jordanian pharma outfit Hikma Pharmaceuticals (LSE: HIK) rallied 9% to 405p after strong interim numbers, and Acambis (LSE: ACM) jumped 10% to 146p after winning a hefty smallpox vaccine order, which helped to make up for widening mid-year losses.

Miners were in the doldrums this week though as commodity prices came off the boil. Rio Tinto (LSE: RIO) lost 6% to 2,494p, BHP Billiton (LSE: BLT) fell 6% to 925p, and Aquarius Platinum (LSE: AQP) tumbled 11% to 830p. Meanwhile, Randgold Resources (LSE: RRS) dipped 7% to 1,113p as the price of gold dropped below $600 an ounce.

Redrow (LSE: RDW) was in the pink even though it posted a fall in full-year profits. The housebuilder, whose shares hardened 7% to 575p, said sales levels for its new financial year were encouraging. This sentiment was echoed by Bovis Homes (LSE: BVS) , which scampered 10% higher to 945p on strong interim figures, and Kier (LSE: KIE) , up 3% to 1,664p.

Countrywide (LSE: CWD) surged 14% to 506p after 3i (LSE: III) said it may make an approach in conjunction with the estate agent's managing director, Harry Hill. In other takeover news, AWG (LSE: AWG) shot up 17% after receiving an approach, and construction firm John Laing (LSE: LNGO) , which surged 20% to 329p, has been approached, too. Elsewhere, StanleyLeisure (LSE: SLY) added 2% to 876p after it accepted an offer from Malaysia's Genting International.

Sticking with gambling shares, online gaming group 888 Holdings (LSE: 888) gained 5% to 153p after interim results. Its shares were also lifted by news that US authorities have released Sportingbet (LSE: SBT) boss Peter Dicks on bail over the company's alleged illegal activities in the US.

Next (LSE: NXT) put on 7% to 1,845p after its half-year results came in above expectations. The retailer said a surge in online and catalogue sales helped to offset a disappointing performance at its high street stores. French Connection (LSE: FCCN) racked up 2% to 202p on a positive start to the new season, and Kingfisher (LSE: KGF) gained 4% to 247p on its upbeat outlook.

Other companies in the news included Garfunkel's owner Restaurant Group (LSE: RTN) , which surged 8% to 226p on tasty results, and MyTravel (LSE: MT.S) , which slid 6% to 187p following a profit warning. Aviva (LSE: AV.) firmed 4% to 779p on news of 4,000 job cuts while Misys (LSE: MSY) tumbled 8% to 233p when a potential bidder reportedly walked away. Finally, the doors at Homebuy (LSE: HBG) were slammed shut as the company filed for administration.

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