In the UK FTSE 100 Index of leading shares has risen in morning trading up 14 points at 5,351.80, on take over speculation regarding Scottish Power and softening oil prices.
Leading shares are higher in opening deals, with Scottish Power adding over 5% on imminent bid hopes and on news oil prices slipped back overnight as supply concerns in the aftermath of Hurricane Katrina ease. Scottish Power has begun the day as it finished yesterday -- the top blue chip performer, up a further 28.5p this morning to 576p, on hopes of an imminent bid for the utility from German peer E.ON. Last night, E.ON said it is 'considering its options' regarding a possible offer for its UK counterpart, adding any bid is likely to be in cash only. A statement this morning from S...
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