Car dealers Pendragon today shocked the City by revealing its was interested in bidding for both Lookers and Reg Vardy to create the undisputed king of the UK car dealership sector.

Takeover activity helped lift the mood on the London market today as plasterboard maker BPB ditched its opposition to being bought by a French rival.

UK motor dealer Reg Vardy today unveiled record profits and forecast further growth despite fears the new car market may have peaked.

London’s leading shares remained stuck just within negative territory today as early fears of a lacklustre day proved well founded.