Trading slow in London

Trading on the London market was lacklustre today despite the battle for Safeway hotting up with the emergence of a fifth potential bidder.

Shares in the group surged to fresh eight-month highs after billionaire Philip Green, who owns Bhs and Arcadia, said he was considering a cash offer for the business. By lunchtime the stock was up 8.25p to 313.25p, a 3% rise.