FTSE gains on takeover talk for M&S and WH Smith

The FTSE 100 Index increased 0.4% to 4537.7 after WH Smith surged a whopping 84p or 32% to 344p after confirming it is in talks with private-equity company Permira Advisers. Marks & Spencer Group, the high street retailer, is also up 9.25p, or 3.5% to 273. 75p after a national newspaper suggested there were two possible bidders for the company. However, GKN, the military parts manufacturer, has so far fallen 3.75p or 1.6% to 235.75p. In the Asian markets, trading is not as hot in Japan, as another newspapers suggested one of the banks suggested it would have to “recategorize” some ...