FTSE falls despite Standard Life bid speculation

The Edinburgh-based insurer is posting the biggest gains so far with a rise of 2.3% to 289.5p, following reports over the weekend suggesting rival insurer Axa is considering a £7bn takeover approach for the group. Drax Group is also up 1.06% to 812.5p, closely followed by British Energy which has gained 0.83% to 423p, while Kelda group has climbed 0.7% to 868p, and Hanson has added 0.56% to 715p. On the downside, Shire Pharmaceuticals is the biggest drag on the index with a drop of 2.17% to 946p, closely followed by Home Retail which is down 2.14% to 399.75p after analysts moved the stock...