FTSE starts week on the back foot

Medical devices firm Smith & Nephew soared to the top of the FTSE 100 Index today after reports of a takeover approach from US rival Johnson & Johnson.

FTSE starts week on the back foot
Mon, 10 Jan, 2011 - 12:21

Medical devices firm Smith & Nephew soared to the top of the FTSE 100 Index today after reports of a takeover approach from US rival Johnson & Johnson.

Smith & Nephew shares leapt 12% amid speculation suggesting its suitor was considering whether to return with a higher offer after a £7bn (€8.4bn) proposal was reportedly rejected several weeks ago.

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