Takeover talk keeps FTSE afloat

Rumours of an approach for Barclays have been doing the rounds for some time. Spain’s BBVA may also be interested. Cigarette manufacturer Gallaher, which owns the Benson & Hedges and Silk Cut brands, closed way ahead up 21.55% to £11.90 after it received an approach said to be worth as much as £8bn. Reports this morning suggested Japan Tobacco was the suitor. The news confirms years of speculation that Gallaher would be taken over by its Asian peer. Imperial Tobacco and BAT felt the benefit rising 10.17% to £20.79 and 2.25% to £14.55 respectively. In the US the Dow Jones Industrial Aver...