The FTSE 100 Index held firm today in a lacklustre session for shares in London as markets in the United States closed for the Independence Day holiday.

The FTSE 100 Index retreated from its six-week high today as the market lost momentum with the Independence Day break in the US.

Bid interest in British Gas owner Centrica reared up again today as investors took a punt on the possibility of a takeover move from Russia’s Gazprom.

Takeover talk involving two high-profile stocks kept investors from fretting today over the prospect of higher interest rates in the United States.

Takeover speculation drove the London market today as attention switched to the possibility of deals for music group EMI and steel giant Corus.

Corus shares leapt by as much as 6% on the London stock exchange today as investors bet that the Anglo Dutch group will be the next steel company in line for a takeover.

A series of multibillion dollar acquisitions gave Wall Street a modest advance today although many investors remained cautious ahead of the Federal Reserve’s decision on interest rates later in the week.

Investors were in nervous mood today ahead of the Federal Reserve’s decision on US interest rates later this week.

A rush of dealmaking activity stirred investors during a steady session for the London market today.

Mittal Steel was today said to be preparing to increase its offer for Arcelor to more than £18bn to beat off rival interest from Russia.

The battle between the world’s two largest steel companies intensified today when Mittal Steel urged Arcelor shareholders to resist an alternative tie-up in Russia.

London’s leading shares ended a volatile week on the front foot today rallying more than 100 points.

World markets showed signs of steadying today as fears over rising inflation began to recede.

The steel giant owned by British-based tycoon Lakshmi Mittal was today facing a battle to convince European powerbrokers of the merits of its £12.7bn (€18.5bn) bid for Arcelor.

A £12.7bn (€18.5bn) takeover proposal from steel giant Mittal helped fuel European markets and lift the FTSE 100 Index to its best level since 2001 today.

BRITISH-BASED tycoon Lakshmi Mittal announced a dip in profits for the world’s largest steelmaker yesterday after prices softened and raw material costs rose.