UK shares lifted by takeover news

Image copyright AFP

Shares in the UK rose as trading got under way for the week, although most of the action was taking place in the mid-cap FTSE 250 index.

Shares in energy services group Amec Foster Wheeler soared 19% to 582p after the company said it had agreed to be bought by rival Wood Group for £2.2bn.

Wood Group shares were also higher, climbing 7.5% to 808p.

Also in the FTSE 250, Bovis Homes rose 8% after the housebuilder revealed it had received two takeover approaches.

At the weekend, Bovis said it had turned down separate offers from Redrow and Galliford Try, but that it was continuing talks with the latter.

The benchmark FTSE 100 was up 6 points at 7,349.08 in early trade, with mining shares helping to pull the index higher after metal prices rose.

BBC

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