Sainsbury's takeover rumours fuel FTSE advance

Supermarket chain Sainsbury’s led an advance for the London market today amid renewed takeover speculation for the firm.

The stock, which avoided a private equity takeover earlier in the month, rose nearly 7%, or 36.5p to 566.5p, after a dawn-raid on the shares involving a 14% stake in the retailer. A company linked to financier brothers Robert and Vincent Tchenguiz was seen as the most likely buyer.