Takeover speculation boosts FTSE

Scottish & Newcastle shares jumped 20% today after rivals Carlsberg and Heineken admitted their interest in a joint takeover bid.

Analysts have speculated the pair could come up with an 800p a share offer for S&N, valuing the historic brewer at £7.5 billion. Shares rose 124.5p to 761p, even though Carlsberg and Heineken said no formal approach had yet been made.