ICI bounces as US lawsuit dropped

Shares in Britain“s Imperial Chemical Industries Plc rose at the beginning of March after the firm said the Superior Court of Rhode Island had dismissed its US unit Glidden from a lawsuit over lead i…

Shares in Britain“s Imperial Chemical Industries Plc rose at the beginning of March after the firm said the Superior Court of Rhode Island had dismissed its US unit Glidden from a lawsuit over lead in paints. Dealers said the news was lifting the shares, which gained 3.2% or nine pence to 294p, having recently fallen to a four-month low of 241p. At the end of February, ICI said the US dismissed the lead-in-paints suit filed against a number of parties in 1999, but added that Glidden remained a defendant in a number of other cases, the final resolution of which may be years away.