Imperial inhales competitor, but FTSE down early

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The FTSE 100 has started sluggishly this morning, despite takeover and acquisition speculation - the index is currently down 52.3 points, or 0.79%, to 6606.8.

Imperial Tobacco says it is close to securing a £8.7bn deal for Altadis, leading it to a strong opening, currently up 65 points, or 2.95%, to 2266. J Sainsbury has received an approach from Qatari investment group Delta (Two) Limited, pushing the supermarket giants up 7 points, or 1.2%, to 592.5. Man Group is struggling early, the alternative investment products and solutions provider is down 14.5 points, or 2.37%, to 598.5. In New York, the Dow Jones hit 14,000 for the first time, but dipped in late trading to finish 20.57 points higher, or 0.15 %, to 13971.55. A broker upgrade led...

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