NRock takeover news boosts FTSE

News that private equity group JC Flowers had secured $15bn of funding to buy Northern Rock sent shares up 11.5 points, or 8.48%, to 147.1p, followed by Yell Group, which gained 9 points, or 2.06%, to 445.25p. Royal Bank of Scotland added 11 points, or 2.04%, to 549.5p, HSBC Holdings gained 18.5 points, or 2.03%, to 930p, while British Airways climbed 7.5 points, or 1.83%, to 416.5p. Royal & Sun Alliance shares fell 4.4 points, or 2.82%, to 151.4p, Kingfisher lost 4.6 points, or 2.35%, to 191.5p, while Wolseley dropped 17.5 points, or 2%, to 859.5p. On Wall Street, markets lost ground as...