FTSE falls despite Standard Life bid speculation

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In early trading, the FTSE 100 is down 27.5 points, or 0.45%, to 6,133.4 despite a strong start by Standard Life following takeover speculation.

The Edinburgh-based insurer is posting the biggest gains so far with a rise of 2.3% to 289.5p, following reports over the weekend suggesting rival insurer Axa is considering a £7bn takeover approach for the group. Drax Group is also up 1.06% to 812.5p, closely followed by British Energy which has gained 0.83% to 423p, while Kelda group has climbed 0.7% to 868p, and Hanson has added 0.56% to 715p. On the downside, Shire Pharmaceuticals is the biggest drag on the index with a drop of 2.17% to 946p, closely followed by Home Retail which is down 2.14% to 399.75p after analysts moved the stock...

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