Bid speculation lifts FTSE higher

Financials helped the index higher with consolidation hopes pushing fund manager Amvescap up 5.36% to 629p, although the biggest rise of the day went to hedge fund Man Group which climbed 8.21% to 478p, following reports Goldman Sachs might be a possible bidder for the firm. Meanwhile Wolseley climbed 3.86% to £12.11, closely followed by ICAP which added 2.81% to 531.25p, while Vodafone jumped 2.58% to 129.25p, following solid gains from the US telecoms market. However Shire Group was the biggest drag on the index with a drop of 4.66% to 961p, closely followed by steelmaker Corus which ...