Wall Street reverses FTSE's gain

E.ON’s $35bn offer to buy Spain’s Endesa triggered speculation of more takeovers in the sector. International Power gained 3.45% to 284.50p, Scottish and Southern Energy rose 1.45% to 1,157p, Severn Trent gained 0.86% to 1,169p and United Utilities was up 0.81% at 688p. British Energy also gained 1.82% to 631p after Citigroup upgraded it to "hold" from "sell" ahead of its third quarter figures in order to reflect an improvement in the pricing environment. Sales at Cadbury Schweppes grew at the fastest pace for a decade last year, lifting profits by 13% to £873m and sales by 7% to £6.5bn...