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Centrica shares up on takeover talk

Shares in British Gas owner Centrica rose 4% in early trade following a report that it could be a bid target.

A report on the Wall Street Wires website said there was talk that the company had attracted the interest of a couple of potential buyers.

Centrica was the biggest riser on the FTSE 100, although the index itself was down 21.37 points at 7,316.91.

Shares in Easyjet rose 3.9% after Credit Suisse raised its rating on the airline to “outperform” from “neutral”.

In the FTSE 250, shares in homewares retailer Dunelm rose 3.1% after it reported strong fourth quarter trading.

Total revenues for the 13 weeks to 1 July rose 17.7% to £340m, helped by the company’s takeover of home improvement products retailer Worldstores. Like-for-like sales in the quarter were up 3.8%.

However, Dunelm said it expected full-year pre-tax profits to be between £109m and £111m, down from £128.9m last year.

On the currency markets, the pound dipped 0.1% against the dollar to $1.2954 and was also 0.1% lower against the euro at 1.1342 euros.

Source: business

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