FTSE drifting after last week's stalled rally

Powergen, the UK electricity generator, is the subject of a takeover bid by Germany's second largest electricity group Eon of up to £10bn. Eon's offer values the company at £10bn. Powergen shares moved up 16.5p to 722.5p at open, but had fallen back to 716 by midday. In early trading, the FTSE 100 drifted 10.4 points lower to 5,591.1 and the Techmark 100 index gave up 6.1 points to 1,774. Shares in the UK's largest telecoms equipment maker Marconi dipped 21.5p, or 6.6%, to 303.5p. It follows unfavourable press coverage in the Sunday Business which reported planned job cuts of 3,0...